IRIS Accounts Production v25.1.3.33 03480979 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03480979 2024-03-31 03480979 2025-03-31 03480979 2024-04-01 2025-03-31 03480979 2023-03-31 03480979 2023-04-01 2024-03-31 03480979 2024-03-31 03480979 ns15:EnglandWales 2024-04-01 2025-03-31 03480979 ns14:PoundSterling 2024-04-01 2025-03-31 03480979 ns10:Director1 2024-04-01 2025-03-31 03480979 ns10:Director2 2024-04-01 2025-03-31 03480979 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03480979 ns10:MediumEntities 2024-04-01 2025-03-31 03480979 ns10:Audited 2024-04-01 2025-03-31 03480979 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 03480979 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03480979 ns10:FullAccounts 2024-04-01 2025-03-31 03480979 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 03480979 ns10:Director3 2024-04-01 2025-03-31 03480979 ns10:Director4 2024-04-01 2025-03-31 03480979 ns10:CompanySecretary1 2024-04-01 2025-03-31 03480979 ns10:RegisteredOffice 2024-04-01 2025-03-31 03480979 1 2024-04-01 2025-03-31 03480979 1 2023-04-01 2024-03-31 03480979 ns5:CurrentFinancialInstruments 2025-03-31 03480979 ns5:CurrentFinancialInstruments 2024-03-31 03480979 ns5:ShareCapital 2025-03-31 03480979 ns5:ShareCapital 2024-03-31 03480979 ns5:RevaluationReserve 2025-03-31 03480979 ns5:RevaluationReserve 2024-03-31 03480979 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 03480979 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03480979 ns5:ShareCapital 2023-03-31 03480979 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 03480979 ns5:RevaluationReserve 2023-03-31 03480979 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03480979 ns5:RevaluationReserve 2023-04-01 2024-03-31 03480979 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 03480979 ns5:RevaluationReserve 2024-04-01 2025-03-31 03480979 ns5:OwnedAssets 2024-04-01 2025-03-31 03480979 ns5:OwnedAssets 2023-04-01 2024-03-31 03480979 5 2024-04-01 2025-03-31 03480979 5 2023-04-01 2024-03-31 03480979 ns10:OrdinaryShareClass1 2023-04-01 2024-03-31 03480979 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-03-31 03480979 ns5:PlantMachinery 2024-03-31 03480979 ns5:MotorVehicles 2024-03-31 03480979 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-04-01 2025-03-31 03480979 ns5:PlantMachinery 2024-04-01 2025-03-31 03480979 ns5:MotorVehicles 2024-04-01 2025-03-31 03480979 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-03-31 03480979 ns5:PlantMachinery 2025-03-31 03480979 ns5:MotorVehicles 2025-03-31 03480979 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-03-31 03480979 ns5:PlantMachinery 2024-03-31 03480979 ns5:MotorVehicles 2024-03-31 03480979 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 03480979 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 03480979 ns5:DeferredTaxation 2024-03-31 03480979 ns5:DeferredTaxation 2024-04-01 2025-03-31 03480979 ns5:DeferredTaxation 2025-03-31 03480979 ns10:OrdinaryShareClass1 2025-03-31 03480979 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03480979 ns5:RevaluationReserve 2024-03-31

REGISTERED NUMBER: 03480979 (England and Wales)

CONSOLIDATED STEEL PRODUCTS LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Statement of Comprehensive Income | 8 |

Statement of Financial Position | 9 |

Statement of Changes in Equity | 10 |

Statement of Cash Flows | 11 |

Notes to the Statement of Cash Flows | 12 |

Notes to the Financial Statements | 13 |

CONSOLIDATED STEEL PRODUCTS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | Mrs. G. Broadhurst

| Mr. J.K. Broadhurst

| Mr. J.J. Broadhurst

| Miss E. Broadhurst

| SECRETARY: | Mr. J.J. Broadhurst

| REGISTERED OFFICE: | 15-17 Church Street

| Stourbridge

| West Midlands

| DY8 1LU

| REGISTERED NUMBER: | 03480979 (England and Wales)

| AUDITORS: | Folkes Worton LLP

| Chartered Accountants and Statutory Auditor

| 15-17 Church Street

| Stourbridge

| West Midlands

| DY8 1LU

| BANKERS: | National Westminster Bank Plc

| 103 Colmore Row

| Birmingham

| B3 3NR

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

The directors consider the key performance indicators to be turnover, gross profit, operating profit and net assets, which communicate the financial performance and strength of the company and are all disclosed within the body of the financial statements.

The increase in gross profit and operating profit both reflect the effectiveness of cost control measures introduced by the company, which continues to compete in what remains a difficult trading climate with increasing competition and volatile market prices.

From knowledge and information available currently, the directors feel that consistent application of company policies will enable them to compete in what continues to be a very difficult market.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's activities expose it to a number of financial risks including cash flow risk, credit risk and price risk.

Credit risk

The company's principal financial assets are trade and other receivables. The company's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. The company has no significant concentration of credit risk, with exposure spread over a large number of counterparts and customers.

Price risk

The company is exposed to commodity price risk, but endeavours to manage this risk.

ON BEHALF OF THE BOARD:

Mrs. G. Broadhurst - Director

3 September 2025

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture of manhole covers and steel stockholders.

DIVIDENDS

An interim dividend of £750 per share was paid on the Ordinary £1 shares on 12 April 2024. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 31 March 2025 will be £ 90,000 .

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1 April 2024 to the date of this report.

The beneficial interests of the directors holding office at 31 March 2025 in the shares of the company, according to the register of directors' interests, were as follows:

| 31.3.25 |  | 1.4.24

Ordinary shares of £1 each

Mrs. G. Broadhurst | - |  | 40 |  |

Mr. J.K. Broadhurst | - |  | 80 |  |

Mr. J.J. Broadhurst | 100 |  | 80 |  |

Miss E. Broadhurst | 100 |  | - |  |

These directors did not hold any non-beneficial interests in the shares of the company.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 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.

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025

AUDITORS

The auditors, Folkes Worton LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs. G. Broadhurst - Director

3 September 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CONSOLIDATED STEEL PRODUCTS LIMITED

Opinion

We have audited the financial statements of Consolidated Steel Products Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 March 2025 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

CONSOLIDATED STEEL PRODUCTS 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.

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:

Based on our understanding of the company and their industry, we identified the principal risks of non-compliance with laws and regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to:

- Revenue recognition;

- Existence and valuation of stocks;

- Existence and valuation of trade receivables;

- Existence and completeness of trade liabilities and accruals;

- Management override of controls;

- The posting of inappropriate journal entries to increase revenue or reduce expenditure; and

- Management bias in accounting estimates and judgements

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CONSOLIDATED STEEL PRODUCTS LIMITED

In response to the above identified risks, audit procedures were designed to enable us to arrive at appropriately drawn conclusions. These audit procedures include;

- Documentation of the invoice recording processes and agreement of a sample of income from source to the nominal entries;

- Review and challenging of journal entries, in particular unusual transactions and account combinations;

- Challenging of assumptions and judgements made by management in their assessment of significant accounting estimates;

- Review of the list of related parties, discussion with management and review of the records of account; and

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely it would be for the inherently limited procedures required by auditing standards to identify it. In addition, as with any audit, there remains a risk of not detecting irregularities as these may include collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Nigel Meredith FCA (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

3 September 2025

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 13,671,053 |  | 11,210,387 |  |

Cost of sales | 10,864,849 |  | 8,917,197 |  |

GROSS PROFIT | 2,806,204 |  | 2,293,190 |  |

Administrative expenses | 393,228 |  | 574,727 |  |

2,412,976 |  | 1,718,463 |  |

Other operating income | 415,808 |  | 487,700 |  |

OPERATING PROFIT | 4 | 2,828,784 |  | 2,206,163 |  |

Interest receivable and similar income | (16,955 | ) | 17,401 |  |

2,811,829 |  | 2,223,564 |  |

Gain/loss on revaluation of investment property | 825,000 |  | - |  |

3,636,829 |  | 2,223,564 |  |

Interest payable and similar expenses | 5 | 612 |  | - |  |

PROFIT BEFORE TAXATION | 3,636,217 |  | 2,223,564 |  |

Tax on profit | 6 | 872,672 |  | 555,891 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,763,545 |  | 1,667,673 |  |

OTHER COMPREHENSIVE INCOME |

Revaluation of long leasehold property | 430,000 |  | - |  |

Income tax relating to other comprehensive income | (67,606 | ) | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 362,394 |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,125,939 |  | 1,667,673 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 1,306,696 |  | 900,124 |  |

Investment property | 9 | 1,478,450 |  | 1,155,950 |  |

2,785,146 |  | 2,056,074 |  |

CURRENT ASSETS

Stocks | 10 | 540,268 |  | 290,018 |  |

Debtors | 11 | 18,432,223 |  | 16,144,975 |  |

Cash at bank | 143,669 |  | 175,387 |  |

19,116,160 |  | 16,610,380 |  |

CREDITORS

Amounts falling due within one year | 12 | 824,904 |  | 864,425 |  |

NET CURRENT ASSETS | 18,291,256 |  | 15,745,955 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 21,076,402 |  | 17,802,029 |  |

PROVISIONS FOR LIABILITIES | 13 | 315,843 |  | 77,409 |  |

NET ASSETS | 20,760,559 |  | 17,724,620 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 200 |  | 200 |  |

Revaluation reserve | 15 | 1,010,709 |  | - |  |

Retained earnings | 15 | 19,749,650 |  | 17,724,420 |  |

SHAREHOLDERS' FUNDS | 20,760,559 |  | 17,724,620 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

Mrs. G. Broadhurst - Director

Mr. J.K. Broadhurst - Director

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 200 |  | 16,146,747 |  | - |  | 16,146,947 |  |

Changes in equity

Dividends | - |  | (90,000 | ) | - |  | (90,000 | ) |

Total comprehensive income | - |  | 1,667,673 |  | - |  | 1,667,673 |  |

Balance at 31 March 2024 | 200 |  | 17,724,420 |  | - |  | 17,724,620 |  |

Changes in equity

Dividends | - |  | (90,000 | ) | - |  | (90,000 | ) |

Total comprehensive income | - |  | 2,115,230 |  | 1,010,709 |  | 3,125,939 |  |

Balance at 31 March 2025 | 200 |  | 19,749,650 |  | 1,010,709 |  | 20,760,559 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 70,975 |  | 112,348 |  |

Interest paid | (612 | ) | - |  |

Tax paid | (682,126 | ) | (549,903 | ) |

Net cash from operating activities | (611,763 | ) | (437,555 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (3,000 | ) | (73,738 | ) |

Sale of tangible fixed assets | - |  | 55,535 |  |

Sale of investment property | 690,000 |  | 566,500 |  |

Interest received | (16,955 | ) | 17,401 |  |

Net cash from investing activities | 670,045 |  | 565,698 |  |

Cash flows from financing activities

Equity dividends paid | (90,000 | ) | (90,000 | ) |

Net cash from financing activities | (90,000 | ) | (90,000 | ) |

(Decrease)/increase in cash and cash equivalents | (31,718 | ) | 38,143 |  |

Cash and cash equivalents at beginning of year | 2 | 175,387 |  | 137,244 |  |

Cash and cash equivalents at end of year | 2 | 143,669 |  | 175,387 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 3,636,217 |  | 2,223,564 |  |

| Depreciation charges | 26,420 |  | 32,642 |  |

| Profit on disposal of fixed assets | (187,492 | ) | (4,844 | ) |

| Gain on revaluation of fixed assets | (825,000 | ) | - |  |

| Finance costs | 612 |  | - |  |

| Finance income | 16,955 |  | (17,401 | ) |

2,667,712 |  | 2,233,961 |  |

| (Increase)/decrease in stocks | (250,250 | ) | 139,827 |  |

| Increase in trade and other debtors | (2,287,248 | ) | (2,278,208 | ) |

| (Decrease)/increase in trade and other creditors | (59,239 | ) | 16,768 |  |

| Cash generated from operations | 70,975 |  | 112,348 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 31 March 2025

| 31/3/25 |  | 1/4/24

£ | £ |

| Cash and cash equivalents | 143,669 |  | 175,387 |  |

| Year ended 31 March 2024

| 31/3/24 |  | 1/4/23

£ | £ |

| Cash and cash equivalents | 175,387 |  | 137,244 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/4/24 | Cash flow | At 31/3/25

£ | £ | £ |

| Net cash |

| Cash at bank | 175,387 |  | (31,718 | ) | 143,669 |  |

175,387 |  | (31,718 | ) | 143,669 |  |

| Total | 175,387 |  | (31,718 | ) | 143,669 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Consolidated Steel Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax. The fair value of consideration takes into account trade discounts.

| Revenue from the sale of goods is recognised when:

| - the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods;

| - the amount of the revenue can be measured reliably;

| - it is probable that the economic benefits associated with the transaction will flow to the entity; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Investment property |  | - |  | Not provided |  |

| Long leasehold |  | - |  | Not provided |  |

| Plant and machinery |  | - |  | 15% on reducing balance |  |

| Motor vehicles |  | - |  | 25% on reducing balance |  |

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

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis.

| At each reporting date, an assessment is made for impairment, being any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell. The impairment loss and any subsequent reversal is recognised in the statement of comprehensive income.

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

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

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 333,331 |  | 339,252 |  |

| Social security costs | 27,211 |  | 19,961 |  |

| Other pension costs | 6,563 |  | 5,947 |  |

367,105 |  | 365,160 |  |

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

| 2025 |  | 2024

| Director | 1 |  | 1 |  |

| Employees | 14 |  | 14 |  |

15 |  | 15 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 12,570 |  | 12,570 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

4. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 26,420 |  | 32,642 |  |

| Profit on disposal of fixed assets | (187,492 | ) | (4,844 | ) |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Corporation Tax interest | 612 |  | - |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 701,844 |  | 560,790 |  |

| Deferred tax | 170,828 |  | (4,899 | ) |

| Tax on profit | 872,672 |  | 555,891 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation of long leasehold property | 430,000 |  | (67,606 | ) | 362,394 |  |

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each |

| Interim dividends paid on ordinary shares | 90,000 |  | 90,000 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. | TANGIBLE FIXED ASSETS

| Long |  | Plant and |  | Motor |

| leasehold |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 757,496 |  | 385,211 |  | 58,330 |  | 1,201,037 |  |

| Additions | - |  | 3,000 |  | - |  | 3,000 |  |

| Disposals | - |  | (500 | ) | - |  | (500 | ) |

| Revaluations | 430,000 |  | - |  | - |  | 430,000 |  |

| At 31 March 2025 | 1,187,496 |  | 387,711 |  | 58,330 |  | 1,633,537 |  |

| DEPRECIATION

| At 1 April 2024 | - |  | 288,722 |  | 12,191 |  | 300,913 |  |

| Charge for year | - |  | 14,884 |  | 11,536 |  | 26,420 |  |

| Eliminated on disposal | - |  | (492 | ) | - |  | (492 | ) |

| At 31 March 2025 | - |  | 303,114 |  | 23,727 |  | 326,841 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,187,496 |  | 84,597 |  | 34,603 |  | 1,306,696 |  |

| At 31 March 2024 | 757,496 |  | 96,489 |  | 46,139 |  | 900,124 |  |

| Cost or valuation at 31 March 2025 is represented by:

| Long |  | Plant and |  | Motor |

| leasehold |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| Valuation in 2025 | 430,000 |  | - |  | - |  | 430,000 |  |

| Cost | 757,496 |  | 387,711 |  | 58,330 |  | 1,203,537 |  |

1,187,496 |  | 387,711 |  | 58,330 |  | 1,633,537 |  |

| If long leasehold property had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 757,496 |  | 757,496 |  |

| Long leasehold property were valued on an open market basis on 15 October 2024 by Bruton Knowles Chartered Surveyors .

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

9. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024 | 1,155,950 |  |

| Disposals | (502,500 | ) |

| Revaluations | 825,000 |  |

| At 31 March 2025 | 1,478,450 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,478,450 |  |

| At 31 March 2024 | 1,155,950 |  |

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2025 | 825,000 |  |

| Cost | 653,450 |  |

1,478,450 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 653,450 |  | 1,155,950 |  |

| Investment property was valued on an open market basis on 15 October 2024 by Bruton Knowles Chartered Surveyors .

10. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 540,268 |  | 290,018 |  |

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 14,865,564 |  | 12,519,186 |  |

| Other debtors | 3,535,090 |  | 3,431,029 |  |

| Prepayments | 31,569 |  | 194,760 |  |

18,432,223 |  | 16,144,975 |  |

CONSOLIDATED STEEL PRODUCTS LIMITED (REGISTERED NUMBER: 03480979)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 729 |  | 2,297 |  |

| Tax | 80,508 |  | 60,790 |  |

| Social security and other taxes | 7,258 |  | 7,404 |  |

| VAT | 123,137 |  | 132,172 |  |

| Other creditors | 301,174 |  | 351,197 |  |

| Directors' loan accounts | 300,000 |  | 300,000 |  |

| Accruals | 12,098 |  | 10,565 |  |

824,904 |  | 864,425 |  |

13. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 315,843 |  | 77,409 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 77,409 |  |

| Charge to Statement of Comprehensive Income during year | 170,828 |  |

| Revaluation of long leasehold | 67,606 |  |

| Balance at 31 March 2025 | 315,843 |  |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 200 | Ordinary | £1 | 200 |  | 200 |  |

15. | RESERVES

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 April 2024 | 17,724,420 |  | - |  | 17,724,420 |  |

| Profit for the year | 2,763,545 |  | 2,763,545 |  |

| Dividends | (90,000 | ) | (90,000 | ) |

| Released during the year | (648,315 | ) | 1,010,709 |  | 362,394 |  |

| At 31 March 2025 | 19,749,650 |  | 1,010,709 |  | 20,760,359 |  |