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REGISTERED NUMBER: SC407731 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

FOR

GLOBAL STEEL SOLUTIONS LIMITED

GLOBAL STEEL SOLUTIONS LIMITED (REGISTERED NUMBER: SC407731)

CONTENTS OF THE FINANCIAL STATEMENTS

for the period 1 January 2023 to 30 June 2024

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

GLOBAL STEEL SOLUTIONS LIMITED

COMPANY INFORMATION

for the period 1 January 2023 to 30 June 2024

| DIRECTORS: | P S Cook

| T P Cullen

| REGISTERED OFFICE: | C/o Gillespie MacAndrew,

| 5 Atholl Crescent

| Edinburgh

| EH3 8EJ

| REGISTERED NUMBER: | SC407731 (Scotland)

GLOBAL STEEL SOLUTIONS LIMITED (REGISTERED NUMBER: SC407731)

STATEMENT OF FINANCIAL POSITION

30 June 2024

| 2024 |  | 2022

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 4 | - |  | 876,856 |  |

Cash at bank | - |  | 30,863 |  |

- |  | 907,719 |  |

CREDITORS

Amounts falling due within one year | 5 | 66,866 |  | 934,079 |  |

NET CURRENT LIABILITIES | (66,866 | ) | (26,360 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (66,866 | ) | (26,360 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (66,966 | ) | (26,460 | ) |

(66,866 | ) | (26,360 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

P S Cook - Director

GLOBAL STEEL SOLUTIONS LIMITED (REGISTERED NUMBER: SC407731)

NOTES TO THE FINANCIAL STATEMENTS

for the period 1 January 2023 to 30 June 2024

1. | STATUTORY INFORMATION

| Global Steel Solutions 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 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The directors have considered the financial resources and commitments of the company and will continue to provide support by not seeking repayment of a director's loan account ahead of other creditors. The directors therefore consider it appropriate to continue to prepare the accounts on the going concern basis although their intention is that the company will be wound up in the foreseeable future as trading is unlikely to continue post year end.

| 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.

| Turnover

| Turnover represents goods and services supplied, excluding value added tax.

| Turnover for supply only contracts is recognised to the extent that the company has obtained the right to consideration through its performance by delivery of goods and is measured at the fair value of the right to consideration.

| The amount of profit attributable to the stage of completion of a contract is recognised when the outcome of the contract can be foreseen with reasonable certainty. Turnover for such contracts is stated at the cost appropriate to the stage of completion plus attributable profit, less amounts recognised in previous years. Provision is made for any losses as soon as they are foreseeable.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Taxation

| Taxation for the period 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 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 period 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

| Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 2 (2022 - 2 ) .

GLOBAL STEEL SOLUTIONS LIMITED (REGISTERED NUMBER: SC407731)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the period 1 January 2023 to 30 June 2024

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

2024 | 2022 |

£ | £ |

| Trade debtors | - |  | 785,969 |  |

| Amounts owed by group undertakings | - |  | 88,704 |  |

| Other debtors | - |  | 2,183 |  |

- |  | 876,856 |  |

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

2024 | 2022 |

£ | £ |

| Trade creditors | - |  | 7,196 |  |

| Amounts owed to group undertakings | 66,866 |  | - |  |

| Other creditors | - |  | 926,883 |  |

66,866 |  | 934,079 |  |

6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the period ended 30 June 2024 and the year ended 31 December 2022:

2024 | 2022 |

£ | £ |

| P S Cook

| Balance outstanding at start of period | - |  | - |  |

| Amounts advanced | - |  | 2,000 |  |

| Amounts repaid | - |  | (2,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of period | - |  | - |  |

7. | RELATED PARTY DISCLOSURES

| Creditors includes £66,866 in respect of amounts owing to the company's immediate parent company (2022 - £88,704 debtor) This company has a trade debtor of £nil (2022 - £785,969) included in the accounts due from companies under common control.

| Income includes management charge income of £47,500 charged to a company under common control.