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REGISTERED NUMBER: 01325509 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

PARKSIDE STEEL (STOCKHOLDERS) LIMITED

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


PARKSIDE STEEL (STOCKHOLDERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: J Audley
P Cooper





REGISTERED OFFICE: 42 Langton Avenue
London
N20 9DA





BUSINESS ADDRESS: Unit 9A Little Oak Drive
Sherwood Business Park
Annesley
Nottingham
NG15 0DR





REGISTERED NUMBER: 01325509 (England and Wales)





AUDITORS: Lemans
Statutory Auditor
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024

The directors present their strategic report for the year ended 31st March 2024.

REVIEW OF BUSINESS
The principal activity of the Company continued to be that of steel stockholding.

Turnover to YE 31 March 2024 increased by £246,091 from £11,606,415 to £11,852,506. Tonnage output also increased 13% year on year however global steel prices falling meant turnover didn't increase like for like.

Overall, the financial results and position of the company at year end were considered satisfactory by the directors of the Company.

PRINCIPAL RISKS AND UNCERTAINTIES
The strategy and management of the Company are subject to a number of risks and uncertainties.

The directors of the Company monitor these risks and uncertainties and consider price fluctuation to be the greatest of these. Steel price fluctuation primarily happens due to raw material price changes and general global demand. Both of these aren't controllable by the Company however they are monitored regularly with sales and purchasing decisions made as a result.

The Company mitigates the effects of price movement by monitoring cashflow closely through monthly reporting whilst also
implementing stringent credit control procedures.

The directors do not envisage any significant changes in current policies however the strategy is to move into other products, services and delivery areas over the next 12 months.

KEY PERFORMANCE INDICATORS
The directors use a range of financial and non-financial performance indicators to monitor business performance. The directors are of the opinion that the key performance indicators for the Company are Gross Profit, Overheads as a percentage of Turnover and Operating Profit.

2024 2023
Gross Profit £2,878,513 £3,165,002
Overhead % 14.8% 11.4%
Operating Profit £1,250,817 £1,847,027

Operationally the Company reports on order errors and tonnage output to monitor performance. Employee retention is also monitored to evaluate the Companies performance. All measures were within acceptable variances meaning there is no cause for concern.

Monthly reports are produced for all directors to continue evaluating targets and strategy performance.

ON BEHALF OF THE BOARD:





J Audley - Director


6th November 2024

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of steel stockholders.

DIVIDENDS
An interim dividend of 44.31 per share was paid on 15th December 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31st March 2024 will be £ 576,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

J Audley
P Cooper

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Lemans, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J Audley - Director


6th November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PARKSIDE STEEL (STOCKHOLDERS) LIMITED

Opinion
We have audited the financial statements of Parkside Steel (Stockholders) Limited (the 'company') for the year ended 31st March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PARKSIDE STEEL (STOCKHOLDERS) LIMITED


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 Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PARKSIDE STEEL (STOCKHOLDERS) LIMITED


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

- We exercise professional judgment and maintain professional scepticism throughout the planning and performance
of the audit;
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud
is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control;
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control;
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.




Karen Mealand (Senior Statutory Auditor)
for and on behalf of Lemans
Statutory Auditor
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

6th November 2024

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £    £    £   

TURNOVER 11,852,506 11,606,415

Cost of sales 8,973,993 8,441,413
GROSS PROFIT 2,878,513 3,165,002

Distribution costs 625,580 611,652
Administrative expenses 1,012,824 706,323
1,638,404 1,317,975
1,240,109 1,847,027

Other operating income 10,708 -
OPERATING PROFIT 4 1,250,817 1,847,027

Interest receivable and similar income - 8,630
1,250,817 1,855,657

Interest payable and similar expenses 5 113,314 -
PROFIT BEFORE TAXATION 1,137,503 1,855,657

Tax on profit 6 303,904 380,508
PROFIT FOR THE FINANCIAL YEAR 833,599 1,475,149

Retained earnings at beginning of year 4,568,800 3,788,973

Dividends 7 (576,000 ) (695,322 )

RETAINED EARNINGS AT END OF
YEAR

4,826,399

4,568,800

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 4,771,560 530,993
4,771,560 530,993

CURRENT ASSETS
Stocks 11 2,402,790 2,449,746
Debtors 12 2,769,603 2,975,628
Cash at bank 748,592 2,123,859
5,920,985 7,549,233
CREDITORS
Amounts falling due within one year 13 2,867,007 3,355,887
NET CURRENT ASSETS 3,053,978 4,193,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,825,538

4,724,339

CREDITORS
Amounts falling due after more than one year 14 (2,817,710 ) -

PROVISIONS FOR LIABILITIES 18 (141,429 ) (115,539 )
NET ASSETS 4,866,399 4,608,800

CAPITAL AND RESERVES
Called up share capital 19 13,000 13,000
Capital redemption reserve 20 27,000 27,000
Retained earnings 20 4,826,399 4,568,800
SHAREHOLDERS' FUNDS 4,866,399 4,608,800

The financial statements were approved by the Board of Directors and authorised for issue on 6th November 2024 and were signed on its behalf by:





J Audley - Director


PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,212,211 1,910,107
Interest paid (113,314 ) -
Tax paid (353,795 ) (374,956 )
Net cash from operating activities 745,102 1,535,151

Cash flows from investing activities
Purchase of tangible fixed assets (4,434,207 ) (83,708 )
Interest received - 8,630
Net cash from investing activities (4,434,207 ) (75,078 )

Cash flows from financing activities
New loans in year 2,936,250 -
Capital repayments in year (46,412 ) -
Equity dividends paid (576,000 ) (695,322 )
Net cash from financing activities 2,313,838 (695,322 )

(Decrease)/increase in cash and cash equivalents (1,375,267 ) 764,751
Cash and cash equivalents at beginning of
year

2

2,123,859

1,359,108

Cash and cash equivalents at end of year 2 748,592 2,123,859

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 1,137,503 1,855,657
Depreciation charges 193,640 123,399
Finance costs 113,314 -
Finance income - (8,630 )
1,444,457 1,970,426
Decrease/(increase) in stocks 46,956 (516,634 )
Decrease in trade and other debtors 206,025 141,035
(Decrease)/increase in trade and other creditors (485,227 ) 315,280
Cash generated from operations 1,212,211 1,910,107

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 748,592 2,123,859
Year ended 31st March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,123,859 1,359,108


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 2,123,859 (1,375,267 ) 748,592
2,123,859 (1,375,267 ) 748,592
Debt
Debts falling due within 1 year - (72,126 ) (72,126 )
Debts falling due after 1 year - (2,817,710 ) (2,817,710 )
- (2,889,836 ) (2,889,836 )
Total 2,123,859 (4,265,103 ) (2,141,244 )

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Parkside Steel (Stockholders) 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.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced during the period, excluding discounts, rebates and value added tax.
Turnover is recognised at the point the goods are dispatched.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 2% on cost
Improvements to property - 10% to 20% on cost
Plant and machinery - 10% to 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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

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

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.

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.


PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
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
2024 2023
£    £   
Wages and salaries 1,184,854 1,123,351
Social security costs 103,534 92,138
Other pension costs 23,853 21,084
1,312,241 1,236,573

The average number of employees during the year was as follows:
2024 2023

Operations 15 15
Transport 6 6
Sales 6 5
Directors and administration 5 6
32 32

2024 2023
£    £   
Directors' remuneration 70,140 71,288
Directors' pension contributions to money purchase schemes 1,321 1,320

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 266,482 199,589
Depreciation - owned assets 193,640 118,839
Computer software amortisation - 4,560
Auditors' remuneration 18,000 12,000
Foreign exchange differences 317 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 113,314 -

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 353,794
Tax savings owed to group
members 278,014 -
Total current tax 278,014 353,794

Deferred tax 25,890 26,714
Tax on profit 303,904 380,508

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,137,503 1,855,657
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

284,376

352,575

Effects of:
Expenses not deductible for tax purposes 83 24
Capital allowances in excess of depreciation (6,445 ) -
Depreciation in excess of capital allowances - 2,835
Utilisation of tax losses (278,014 ) (1,640 )
Deferred tax 25,890 26,714
Tax savings owed to group members 278,014 -
Total tax charge 303,904 380,508

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. TAXATION - continued

The company utilised group losses for Corporation Tax purposes. The tax saving of £278,014 is owed to these group members.

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Dividend paid 576,000 695,322

8. PENSION CONTRIBUTIONS

The company operates a defined contribution scheme. The assets are managed independently of the company and contributions are charged to the Profit and Loss Account in the period in which they are made. The charge for the year was £23,853 (2023 - £21,084).

9. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1st April 2023
and 31st March 2024 54,765
AMORTISATION
At 1st April 2023
and 31st March 2024 54,765
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

10. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1st April 2023 - 260,917 626,882
Additions 4,215,902 - 15,804
At 31st March 2024 4,215,902 260,917 642,686
DEPRECIATION
At 1st April 2023 - 189,479 334,985
Charge for year 53,207 27,441 49,168
At 31st March 2024 53,207 216,920 384,153
NET BOOK VALUE
At 31st March 2024 4,162,695 43,997 258,533
At 31st March 2023 - 71,438 291,897

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

10. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 79,045 187,156 29,776 1,183,776
Additions 44,757 155,130 2,614 4,434,207
At 31st March 2024 123,802 342,286 32,390 5,617,983
DEPRECIATION
At 1st April 2023 51,801 55,560 20,958 652,783
Charge for year 12,217 47,774 3,833 193,640
At 31st March 2024 64,018 103,334 24,791 846,423
NET BOOK VALUE
At 31st March 2024 59,784 238,952 7,599 4,771,560
At 31st March 2023 27,244 131,596 8,818 530,993

11. STOCKS
2024 2023
£    £   
Stocks 2,402,790 2,449,746

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,443,087 2,815,023
Other debtors 326,516 160,605
2,769,603 2,975,628

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 72,126 -
Trade creditors 2,078,606 2,533,317
Amounts owed to group undertakings 278,014 -
Corporation tax - 353,793
Social security and other taxes 390,293 419,735
Other creditors 47,968 49,042
2,867,007 3,355,887

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 2,817,710 -

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 72,126 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 345,069 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,472,641 -

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 147,250 148,000
Between one and five years 145,000 292,250
292,250 440,250

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,889,836 -

The bank facility is secured by a debenture on the company's assets.

The bank has a fixed and floating charge over the property.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 141,429 115,539

Deferred
tax
£   
Balance at 1st April 2023 115,539
Provided during year 25,890
Balance at 31st March 2024 141,429

PARKSIDE STEEL (STOCKHOLDERS) LIMITED (REGISTERED NUMBER: 01325509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
13,000 Ordinary £1 13,000 13,000

20. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st April 2023 4,568,800 27,000 4,595,800
Profit for the year 833,599 833,599
Dividends (576,000 ) (576,000 )
At 31st March 2024 4,826,399 27,000 4,853,399

21. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 434,670 153,590

22. RELATED PARTY DISCLOSURES

All directors who have authority and responsibility for planning, directing and controlling the activities of the
company are considered to be key management personnel.

Key management personnel remuneration £193,475 (2023 - £189,233).

The company utilised group losses for Corporation Tax purposes. The tax saving of £278,014 is owed to these group members.

23. PARENT COMPANY

Caverswall Enterprises Limited, a company incorporated in the United Kingdom, is the ultimate parent
undertaking.