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REGISTERED NUMBER: SC255261 (Scotland)















Group Strategic Report, Report of the Director and

Audited Consolidated Financial Statements for the Year Ended 30 November 2024

for

Weststrand Limited

Weststrand Limited (Registered number: SC255261)






Contents of the Consolidated Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


Weststrand Limited

Company Information
for the Year Ended 30 November 2024







DIRECTOR: H B Nugent



REGISTERED OFFICE: Caledonia House
Thornliebank Industrial Estate
Glasgow
G46 8JT



REGISTERED NUMBER: SC255261 (Scotland)



SENIOR STATUTORY AUDITOR: Robert Pollock BA CA



AUDITORS: Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA

Weststrand Limited (Registered number: SC255261)

Group Strategic Report
for the Year Ended 30 November 2024

The director presents his strategic report of the company and the group for the year ended 30 November 2024.

REVIEW OF BUSINESS
In the opinion of the board of directors, the group has had a challenging trading year, given the difficult market conditions that the group and all in the industry have faced. Some other financial KPI's are set out in the table below to show the performance of the group over the trading year.

2024 2023

Turnover £8,358,767 £10,564,714
Profit/(Loss) after taxation £624,983 £914,745
Gross Profit %age 24.2% 26.3%

Shareholders' funds amount to £10,943,347 (2023 - £10,318,864). The directors are confident that the group has sufficient reserves to finance the anticipated levels of activity for the foreseeable future.

There have been no events since the balance sheet date that materially affect the financial position of the company.

PRINCIPAL RISKS AND UNCERTAINTIES
The group operates in the steel industry and is therefore subject to the rises and falls within the industry in general. The market is competitive although the group retains a high level of repeat business from its customers and the directors are confident that the high level of service given to the customers will ensure that the group will continue to be competitive in our chosen market.

The group's main credit risk relates to debtors. Credit checks on customers are undertaken regularly and their payment histories are monitored as a matter of course, in addition the group has stringent credit control procedures. Historically these processes have resulted in a low level of bad debt.

Other than an operating lease with a related party, the group does not utilise external sources of finance and does not anticipate a need to in the immediate future. Cash flow is monitored on a day to day basis as part of the overall control function.

GOING CONCERN
The director has assessed the group as having sufficient resources to meet the expected ongoing costs of the business for a period of at least 12 months from the date of signing the financial statements. As a result the director has continued to adopt the going concern basis when preparing the financial statements.

ON BEHALF OF THE BOARD:





H B Nugent - Director


29 August 2025

Weststrand Limited (Registered number: SC255261)

Report of the Director
for the Year Ended 30 November 2024

The director presents his report with the financial statements of the company and the group for the year ended 30 November 2024.

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

DIVIDENDS
An interim dividend of £0.01 per share was paid on 30 November 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 November 2024 will be £ 500 .

DIRECTOR
H B Nugent held office during the whole of the period from 1 December 2023 to the date of this report.

EMPLOYEE INVOLVEMENT
During the period, the company has improved arrangements to provide information to employees. Regular meetings are held between the management and employees to allow a free flow of relevant information.

DISABLED EMPLOYEES
The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the group's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training, career development and promotion wherever appropriate.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information.

Weststrand Limited (Registered number: SC255261)

Report of the Director
for the Year Ended 30 November 2024


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

ON BEHALF OF THE BOARD:





H B Nugent - Director


29 August 2025

Report of the Independent Auditors to the Members of
Weststrand Limited

Opinion
We have audited the financial statements of Weststrand Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 November 2024 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Weststrand Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

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:

The aims of our audit are to identify and assess the risks of material misstatement of the financial statements as a result of fraud or error, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement as a result of fraud or error and to respond appropriately to those risks. As a result of the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures include the following:
- We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006 and UK corporate tax laws.
- We obtained an understanding of how the company complies with those legal and regulatory frameworks by making inquiries of management. We undertook a review of legal fees for any evidence of non-compliance.
- We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the company audit team included:
- identifying and documenting the controls management has in place to prevent and detect fraud and error;
- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgements made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted for large or unusual amounts;
- assessing the extent of compliance with relevant laws and regulations; and
- sample testing of transactions and balances.

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
Weststrand 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.




Robert Pollock BA CA (Senior Statutory Auditor)
for and on behalf of Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA

29 August 2025

Weststrand Limited (Registered number: SC255261)

Consolidated
Income Statement
for the Year Ended 30 November 2024

2024 2023
Notes £    £   

TURNOVER 8,358,767 10,564,714

Cost of sales 6,333,924 7,783,794
GROSS PROFIT 2,024,843 2,780,920

Administrative expenses 2,036,904 2,055,076
(12,061 ) 725,844

Other operating income 761,182 443,066
OPERATING PROFIT 5 749,121 1,168,910

Interest receivable and similar income 122,438 62,521
871,559 1,231,431

Interest payable and similar expenses 6 - 5,400
PROFIT BEFORE TAXATION 871,559 1,226,031

Tax on profit 7 246,576 311,286
PROFIT FOR THE FINANCIAL YEAR 624,983 914,745
Profit attributable to:
Owners of the parent 624,983 914,745

Weststrand Limited (Registered number: SC255261)

Consolidated
Other Comprehensive Income
for the Year Ended 30 November 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 624,983 914,745


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

624,983

914,745

Total comprehensive income attributable to:
Owners of the parent 624,983 914,745

Weststrand Limited (Registered number: SC255261)

Consolidated Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 6,626,792 6,786,441
Investments 12 - -
6,626,792 6,786,441

CURRENT ASSETS
Stocks 13 2,529,772 3,047,743
Debtors 14 2,154,152 3,288,496
Cash at bank and in hand 3,562,578 2,735,686
8,246,502 9,071,925
CREDITORS
Amounts falling due within one year 15 2,337,325 3,825,814
NET CURRENT ASSETS 5,909,177 5,246,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,535,969

12,032,552

PROVISIONS FOR LIABILITIES 16 1,592,622 1,713,688
NET ASSETS 10,943,347 10,318,864

CAPITAL AND RESERVES
Called up share capital 17 50,000 50,000
Retained earnings 18 10,893,347 10,268,864
SHAREHOLDERS' FUNDS 10,943,347 10,318,864

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





H B Nugent - Director


Weststrand Limited (Registered number: SC255261)

Company Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 4,606,544 4,684,744
Investments 12 1,848,545 1,848,545
6,455,089 6,533,289

CURRENT ASSETS
Debtors 14 357,755 354,168
Cash at bank 594,151 808,449
951,906 1,162,617
CREDITORS
Amounts falling due within one year 15 749,253 1,663,552
NET CURRENT ASSETS/(LIABILITIES) 202,653 (500,935 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,657,742

6,032,354

CAPITAL AND RESERVES
Called up share capital 17 50,000 50,000
Retained earnings 18 6,607,742 5,982,354
SHAREHOLDERS' FUNDS 6,657,742 6,032,354

Company's profit for the financial year 625,888 645,678

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





H B Nugent - Director


Weststrand Limited (Registered number: SC255261)

Consolidated Statement of Changes in Equity
for the Year Ended 30 November 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2022 50,000 9,355,119 9,405,119

Changes in equity
Dividends - (1,000 ) (1,000 )
Total comprehensive income - 914,745 914,745
Balance at 30 November 2023 50,000 10,268,864 10,318,864

Changes in equity
Dividends - (500 ) (500 )
Total comprehensive income - 624,983 624,983
Balance at 30 November 2024 50,000 10,893,347 10,943,347

Weststrand Limited (Registered number: SC255261)

Company Statement of Changes in Equity
for the Year Ended 30 November 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2022 50,000 5,337,676 5,387,676

Changes in equity
Dividends - (1,000 ) (1,000 )
Total comprehensive income - 645,678 645,678
Balance at 30 November 2023 50,000 5,982,354 6,032,354

Changes in equity
Dividends - (500 ) (500 )
Total comprehensive income - 625,888 625,888
Balance at 30 November 2024 50,000 6,607,742 6,657,742

Weststrand Limited (Registered number: SC255261)

Consolidated Cash Flow Statement
for the Year Ended 30 November 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,154,020 2,638,786
Interest paid - (5,400 )
Tax paid (296,279 ) (497,519 )
Net cash from operating activities 857,741 2,135,867

Cash flows from investing activities
Purchase of intangible fixed assets - 9,268
Purchase of tangible fixed assets (37,367 ) (851,669 )
Sale of tangible fixed assets 7,168 5,100
Net assets acquired on subsidiary - (1,502,879 )
Interest received 122,438 62,521
Net cash from investing activities 92,239 (2,277,659 )

Cash flows from financing activities
Amount introduced by directors 500 17,651
Amount withdrawn by directors (18,088 ) -
Movement in dilapidations provision (105,000 ) 9,126
Equity dividends paid (500 ) (1,000 )
Net cash from financing activities (123,088 ) 25,777

Increase/(decrease) in cash and cash equivalents 826,892 (116,015 )
Cash and cash equivalents at beginning of
year

2

2,735,686

2,851,701

Cash and cash equivalents at end of year 2 3,562,578 2,735,686

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 November 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 871,559 1,226,031
Depreciation charges 190,891 172,628
Profit on disposal of fixed assets (1,044 ) (5,100 )
Finance costs - 5,400
Finance income (122,438 ) (62,521 )
938,968 1,336,438
Decrease in stocks 517,971 596,334
Decrease/(increase) in trade and other debtors 1,134,427 (750,725 )
(Decrease)/increase in trade and other creditors (1,437,346 ) 1,456,739
Cash generated from operations 1,154,020 2,638,786

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 30 November 2024
30.11.24 1.12.23
£    £   
Cash and cash equivalents 3,562,578 2,735,686
Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 2,735,686 2,851,701


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank and in hand 2,735,686 826,892 3,562,578
2,735,686 826,892 3,562,578
Total 2,735,686 826,892 3,562,578

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Weststrand Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General Information page.

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


2. STATEMENT OF COMPLIANCE

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. There were no material departures from the standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Basis of consolidation
The group financial statements consolidate the financial statements of Weststrand Limited and all of its subsidiary undertakings drawn up to 30 November 2016 each year. Subsidiaries are consolidated from the date of their acquisition, being the date on which the group obtains control and continues to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the subsidiary so as to obtain benefit from its activities.

Significant judgements and estimates
The preparation of financial statements required management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amount of assets, liabilities, income and expenditure. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an ongoing basis and revisions to the estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Turnover
Group turnover is derived from the sale of steel by the group.

Group turnover is measured at the fair value of the sale of steel, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill arising on an acquisition of a trade is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit & loss account over the directors estimate of its economic useful life of up to 10 years. Impairment tests on the carrying value of goodwill are undertaken :-

- at the end of the first full financial year following acquisition;

- in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

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.

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - Over the period of lease
Plant and machinery - 20% on cost, 10% on cost and at varying rates on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 25% on cost and 20% on cost
Computer equipment - 25% on cost and 20% on cost

Tangible fixed assets held for the groups own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the group reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. A provision for slow moving and obsolete stock is made based on historical experience and other relevant factors.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,541,934 1,668,025
Other pension costs 263,191 84,696
1,805,125 1,752,721

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

Management 1 1
Administration and Sales 15 12
Warehouse and Distribution 38 42
54 55

2024 2023
£    £   
Director's remuneration 43,925 51,707

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 190,892 181,895
Profit on disposal of fixed assets (1,044 ) (5,100 )
Goodwill amortisation - (9,268 )
Auditors' remuneration 22,375 16,870

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other interest and charges - 5,400

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

7. 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 262,795 296,434
Over provision in prior years - (2,986 )
Total current tax 262,795 293,448

Deferred tax:
Deferred tax (16,066 ) 1,668
Over provision in prior year (153 ) 16,170
Total deferred tax (16,219 ) 17,838

Tax on profit 246,576 311,286

UK corporation tax has been charged at 25 % .

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 871,559 1,226,031
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

217,890

306,508

Effects of:
Expenses not deductible for tax purposes 210 195
Depreciation in excess of capital allowances 28,629 17,233
Adjustments to tax charge in respect of previous periods (153 ) 13,184
Effect of tax at different tax rate - (25,834 )

Total tax charge 246,576 311,286

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Ordinary Shares shares of £1 each
Interim 500 1,000

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 271,023
AMORTISATION
At 1 December 2023
and 30 November 2024 271,023
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

11. TANGIBLE FIXED ASSETS

Group
Freehold Short Long Plant and
property leasehold leasehold machinery
£    £    £    £   
COST
At 1 December 2023 6,667,473 4,315 50,621 885,401
Additions - - - 10,367
Disposals - - - -
At 30 November 2024 6,667,473 4,315 50,621 895,768
DEPRECIATION
At 1 December 2023 202,729 4,314 50,621 761,219
Charge for year 113,800 - - 29,610
Eliminated on disposal - - - -
At 30 November 2024 316,529 4,314 50,621 790,829
NET BOOK VALUE
At 30 November 2024 6,350,944 1 - 104,939
At 30 November 2023 6,464,744 1 - 124,182

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 34,634 632,228 72,446 8,347,118
Additions - 27,000 - 37,367
Disposals - (35,696 ) - (35,696 )
At 30 November 2024 34,634 623,532 72,446 8,348,789
DEPRECIATION
At 1 December 2023 34,634 434,714 72,446 1,560,677
Charge for year - 47,482 - 190,892
Eliminated on disposal - (29,572 ) - (29,572 )
At 30 November 2024 34,634 452,624 72,446 1,721,997
NET BOOK VALUE
At 30 November 2024 - 170,908 - 6,626,792
At 30 November 2023 - 197,514 - 6,786,441

Company
Freehold
property
£   
COST
At 1 December 2023
and 30 November 2024 4,887,473
DEPRECIATION
At 1 December 2023 202,729
Charge for year 78,200
At 30 November 2024 280,929
NET BOOK VALUE
At 30 November 2024 4,606,544
At 30 November 2023 4,684,744

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 December 2023
and 30 November 2024 1,848,545
NET BOOK VALUE
At 30 November 2024 1,848,545
At 30 November 2023 1,848,545

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Kelvin Steels Limited
Registered office: UK
Nature of business: Steel Stockholders
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,183,836 2,155,083
Profit for the year 228,753 655,919

Kelvin Steels (England) Limited
Registered office: UK
Nature of business: Steel stockholders
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,188,884 2,138,695
Profit for the year 50,189 70,408

Eaststrand
Registered office: UK
Nature of business: Holding Company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,764,325 1,837,034
(Loss)/profit for the year (79,847 ) 33,470


Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

13. STOCKS

Group
2024 2023
£    £   
Stocks 2,529,772 3,047,743

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,780,407 2,775,346 2,711 -
Other debtors 10,250 18,670 - -
Tax 83 - - -
VAT - 12,500 - -
Prepayments 363,412 481,980 355,044 354,168
2,154,152 3,288,496 357,755 354,168

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 1,218,992 1,210,627 3,586 -
Amounts owed to group undertakings - - 559,540 759,540
Tax 262,795 296,350 153,280 66,914
Social security and other taxes 31,905 408,345 - 12,500
VAT 207,319 - 12,346 -
Other creditors 50,665 854,573 20,001 824,598
Directors' current accounts 540 18,128 500 -
Accrued expenses 565,109 1,037,791 - -
2,337,325 3,825,814 749,253 1,663,552

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 334,145 350,211

Other provisions 1,258,477 1,363,477

Aggregate amounts 1,592,622 1,713,688

Weststrand Limited (Registered number: SC255261)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax Dilapidations
£    £   
Balance at 1 December 2023 350,211 1,363,477
Credit to Income Statement during year (16,066 ) (105,000 )
Balance at 30 November 2024 334,145 1,258,477

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary Shares £1 50,000 50,000

18. RESERVES

Group
Retained
earnings
£   

At 1 December 2023 10,268,864
Profit for the year 624,983
Dividends (500 )
At 30 November 2024 10,893,347

Company
Retained
earnings
£   

At 1 December 2023 5,982,354
Profit for the year 625,888
Dividends (500 )
At 30 November 2024 6,607,742