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REGISTERED NUMBER: 03146591 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

STAIRWAYS (MIDLANDS) LIMITED

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


STAIRWAYS (MIDLANDS) LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr N C Stevens
K J Wood



REGISTERED OFFICE: Southam Drive
Southam
Warwickshire
CV47 0FA



REGISTERED NUMBER: 03146591 (England and Wales)



SENIOR STATUTORY AUDITOR: Adele Lawton



AUDITORS: Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Strategic Report
for the Year Ended 31 December 2024

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

REVIEW OF BUSINESS
The Directors are realistic with the 2024 performance of the group and are optimistic for 2025, with turnover reduced by 22.5% compared to 2023 it has been a challenging thought-provoking year. Raw material cost were steady throughout the year, however increased labour and utility costs have, together with reduced turnover, contributed to reduced profitability. Pipeline has seen an improvement going into 2025 however with the interest rate remaining high and new build house sales remaining low the construction industry has endured a drought. The government incentives introduced will see an improvement in demand across the industry and we are confident our strategies will increase our market share.
As important as ever, the group remains a strong advocator of KPI's which are deployed to monitor and manage the daily operations, as well as provide the business with clear direction and benchmarks when assessing annual performance, growth, profitability and returns on investments. Non-financial performance indicators are percentage measures for customer growth, movements in customer accounts and debtor days.
The Directors are realistic about 2025 performance and are looking to mitigate risk by increasing due diligence with new and existing customers, re launching Rapidor - Door Kit, investment in employees and maintaining our reputable high-quality service and product delivery.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks identified by the directors are credit risk. The company manages these risks by trading with creditworthy customers and financing its operations through retained profits.
Reputation, competition and market conditions risks are managed by continuous improvement and innovation, ensuring we deliver on quality and service securing new and recurring contracts. The current economic climate creates uncertainty that could potentially impact on the level of demand whilst this presents a risk to the business the directors will continue to closely monitor the position as the implications become more known to ensure that the group will continue to trade successfully.
Recruitment and employee retention risks are managed by employee engagement, continuous training and ensuring a safe working environment. Employee initiatives are explored on a regular basis as well as benchmarking salaries to ensure we remain competitive.

ON BEHALF OF THE BOARD:





K J Wood - Director


22 May 2025

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Report of the Directors
for the Year Ended 31 December 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture of timber and joinery products for the construction industry.

DIVIDENDS
The directors do not recommend the payment of a final dividend.

RESEARCH AND DEVELOPMENT
The group carries out research and development with the aim of modernising and stream lining the sales systems and processes for the bespoke products manufactured.

FUTURE DEVELOPMENTS
The group continues to develop its strategy of researching the availability and feasibility of new building materials and the development of the manufacturing processes with the aim to improve quality and subsequently profitability.

The directors remain confident that the strategy implemented to increase sales and improve profitability will have a positive effect and are committed to invest into its continued success.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr N C Stevens
K J Wood

FINANCIAL INSTRUMENTS
The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

Credit risk arises from customers failing to meet their obligation under contracts of sale to pay. In order to minimise this risk, deferred terms are only granted to those customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures. The company also maintains strong relationships with its key customers through its sales team.

Creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

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.


STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Report of the Directors
for the Year Ended 31 December 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Lawton Bradford Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





K J Wood - Director


22 May 2025

Report of the Independent Auditors to the Members of
Stairways (Midlands) Limited

Opinion
We have audited the financial statements of Stairways (Midlands) Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 31 December 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
Stairways (Midlands) 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 pages three and four, 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
Stairways (Midlands) 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 obtain an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with the framework;
- We obtain an understanding of the entity's policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance;
- Identify which laws and regulations are of significance in the context of the entity;
- We obtain an understanding of the entity's risk assessment process, including the risk of fraud;
- We assess the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur;
- Identify and test unusual or unexpected journal entries;
- Evaluate the assumptions and judgements used by management within significant accounting estimates and assess if these indicate evidence of management bias;
- Test significant transactions, in particular evaluate the business rationale for any which appear unusual or outside the company's normal course of business;
- Review the financial statements and test the disclosures against supporting documentation;
- Communicate relevant matters (including those above) to all members of the audit team to ensure they understood the risks specific to the entity and the audit procedures planned to mitigate these.

In order to ascertain the above and relative to the specific risks identified, the procedures followed included:
Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims;
Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
Review of financial statement disclosures and test to supporting documentation to assess compliance with applicable laws and regulations.
Perform audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
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.

Report of the Independent Auditors to the Members of
Stairways (Midlands) Limited


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.




Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

22 May 2025

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 3 8,588,176 11,085,320

Cost of sales 6,265,718 7,998,668
GROSS PROFIT 2,322,458 3,086,652

Administrative expenses 2,500,635 2,833,551
OPERATING (LOSS)/PROFIT 5 (178,177 ) 253,101

Interest receivable and similar income 198,990 166,469
20,813 419,570
Gain/loss on revaluation of investments 85,323 -
106,136 419,570

Interest payable and similar expenses 6 - 516
PROFIT BEFORE TAXATION 106,136 419,054

Tax on profit 7 40,912 99,566
PROFIT FOR THE FINANCIAL YEAR 65,224 319,488

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Other Comprehensive Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

PROFIT FOR THE YEAR 65,224 319,488


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

65,224

319,488

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 41,846 -

CURRENT ASSETS
Stocks 9 776,400 708,164
Debtors 10 1,222,657 1,422,161
Investments 11 1,131,696 1,046,374
Cash at bank 4,030,994 4,193,968
7,161,747 7,370,667
CREDITORS
Amounts falling due within one year 12 1,230,435 1,473,194
NET CURRENT ASSETS 5,931,312 5,897,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,973,158

5,897,473

PROVISIONS FOR LIABILITIES 14 10,461 -
NET ASSETS 5,962,697 5,897,473

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 16 5,962,597 5,897,373
SHAREHOLDERS' FUNDS 5,962,697 5,897,473

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:




K J Wood - Director



Mr N C Stevens - Director


STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 5,577,885 5,577,985

Changes in equity
Total comprehensive income - 319,488 319,488
Balance at 31 December 2023 100 5,897,373 5,897,473

Changes in equity
Total comprehensive income - 65,224 65,224
Balance at 31 December 2024 100 5,962,597 5,962,697

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Stairways (Midlands) 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to stock and provisions are its critical accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

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 - 20% on cost and 15% on cost
Motor vehicles - 25% on cost

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost of finished goods and work in progress comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

Going concern
The current economic climate creates uncertainty that could potentially impact on the level of demand whilst this presents a risk to the business the directors continue to closely monitor the position as the implications become more known to ensure that the group will continue to trade successfully.
The Directors are realistic about 2025 performance and are looking to mitigate risk by increasing due diligence with new and existing customers, re launching Rapidor - Door Kit, investment in employees and maintaining our reputable high-quality service and product delivery.

The company has continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.12.24 31.12.23
£    £   
United Kingdom 8,588,176 11,085,320
8,588,176 11,085,320

4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 2,437,059 3,002,363
Social security costs 226,653 247,674
Other pension costs 50,377 53,817
2,714,089 3,303,854

The average number of employees during the year was as follows:
31.12.24 31.12.23

Production 68 77
Sales and administration 33 31
101 108

31.12.24 31.12.23
£    £   
Directors' remuneration - 17,036

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

Money purchase schemes - 2

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

31.12.24 31.12.23
£    £   
Hire of plant and machinery 354,152 350,992
Depreciation - owned assets 2,054 -
Auditors' remuneration 6,000 6,000

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Other interest payable - 516

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 30,451 99,566

Deferred tax 10,461 -
Tax on profit 40,912 99,566

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:

31.12.24 31.12.23
£    £   
Profit before tax 106,136 419,054
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 23.520%)

26,534

98,562

Effects of:
Expenses not deductible for tax purposes 1,300 1,004
Income not taxable for tax purposes (21,331 ) -
Capital allowances in excess of depreciation (10,462 ) -
Adjustments to tax charge in respect of previous periods 30,451 -
credit
Deferred tax movement 10,461 -
Tax loss carried back 3,959 -
Total tax charge 40,912 99,566

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024 24,800 - 24,800
Additions - 43,900 43,900
At 31 December 2024 24,800 43,900 68,700
DEPRECIATION
At 1 January 2024 24,800 - 24,800
Charge for year - 2,054 2,054
At 31 December 2024 24,800 2,054 26,854
NET BOOK VALUE
At 31 December 2024 - 41,846 41,846
At 31 December 2023 - - -

9. STOCKS
31.12.24 31.12.23
£    £   
Stocks 776,400 708,164

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 901,257 1,338,093
Other debtors 211,408 17,158
Prepayments and accrued income 109,992 66,910
1,222,657 1,422,161

11. CURRENT ASSET INVESTMENTS
31.12.24 31.12.23
£    £   
Other 1,131,696 1,046,374

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 87,993 167,802
Amounts owed to group undertakings 655,731 410,319
Tax (3,642 ) 50,082
Social security and other taxes 69,708 56,897
VAT 210,537 312,220
Other creditors 724 9,903
Accruals and deferred income 209,384 465,971
1,230,435 1,473,194

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year - 3,029

14. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 10,461 -

Deferred
tax
£   
Charge to Income Statement during year 10,461
Balance at 31 December 2024 10,461

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100
5 Ordinary B £0.1 - -
100 100

The company has one class of ordinary shares which carry no right to fixed income. The company has in issue 5 "B" shares of £0.01 each. These shares do not carry voting rights.

STAIRWAYS (MIDLANDS) LIMITED (REGISTERED NUMBER: 03146591)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

16. RESERVES
Retained
earnings
£   

At 1 January 2024 5,897,373
Profit for the year 65,224
At 31 December 2024 5,962,597

17. PENSION COMMITMENTS

The company operates a defined contribution scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £50,376 (2023 £53,817).

At the year end there were amounts owing to the scheme of £172 (2023 £9,903).

18. ULTIMATE CONTROLLING PARTY

The controlling party is Stairways (Holdings) Limited.

The ultimate parent company is Stairways (Holdings) Limited, incorporated in England & Wales, which is the parent of the smallest and largest group preparing consolidated financial statements that include the company.