REGISTERED NUMBER: 01325509 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

Parkside Steel (Stockholders) Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Income and Retained Earnings

7

Balance Sheet

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTORS:

J Audley

P Cooper

REGISTERED OFFICE:

42 Langton Avenue

London

N20 9DA

REGISTERED NUMBER:

01325509 (England and Wales)

INDEPENDENT AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Unit 4B, The Willows

Ransom Wood Business Park

Southwell Road West

Mansfield

Nottinghamshire

NG21 0HJ

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

REVIEW OF BUSINESS

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

Turnover to YE 31 March 2025 decreased by £1,146,718 from £11,852,506 to £10,705,788. Tonnage output increased by 4.3% year on year however global steel prices falling meant turnover didn't increase like for like.

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

The Company has invested significantly in its infrastructure over the last financial year. This will allow us to increase our output capacity and stock range. Whilst this presents as a short term risk, the company is confident that this will allow us to grow market share.

PRINCIPAL RISKS AND UNCERTAINTIES

The strategy and management of the Company are subject to a number of risks and uncertainties.

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

The Company mitigates the effects of price movement by closely monitoring trends and purchasing in bulk when price is at a competitive level.

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

KEY PERFORMANCE INDICATORS

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

2025 2024

Gross Profit

£2,498,789

£2,878,513

Overhead %

20.4%

14.8%

Operating Profit

£523,516

£1,241,296

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

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

ON BEHALF OF THE BOARD:

J Audley - Director

5 December 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 steel stockholding.

DIVIDENDS

Interim dividends of 205.38 per share were paid on 31st January 2025, 28th February 2025 and 3rd March 2025 respectively. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31st March 2025 will be £80,100.

DIRECTORS

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

J Audley

P Cooper

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Wright Vigar Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Audley - Director

5 December 2025

Opinion

We have audited the financial statements of Parkside Steel (Stockholders) Ltd (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 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.

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:

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of

irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

- We exercise professional judgment and maintain professional scepticism throughout the planning and performance

of the audit;

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,

design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and

appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud

is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,

misrepresentations, or the override of internal control;

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are

appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control;

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those

leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion,omission or misrepresentation.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Unit 4B, The Willows

Ransom Wood Business Park

Southwell Road West

Mansfield

Nottinghamshire

NG21 0HJ

5 December 2025

TURNOVER

10,705,788

11,852,506

Cost of sales

8,206,999

8,973,993

GROSS PROFIT

2,498,789

2,878,513

Distribution costs

696,067

625,580

Administrative expenses

1,279,206

1,012,824

1,975,273

1,638,404

523,516

1,240,109

Other operating income

-

1,187

OPERATING PROFIT

4

523,516

1,241,296

Interest receivable and similar income

4,059

9,521

527,575

1,250,817

Interest payable and similar expenses

5

209,834

113,314

PROFIT BEFORE TAXATION

317,741

1,137,503

Tax on profit

6

105,302

303,904

PROFIT FOR THE FINANCIAL YEAR

212,439

833,599

Retained earnings at beginning of year

4,826,399

4,568,800

Dividends

7

(80,100

)

(576,000

)

RETAINED EARNINGS AT END OF YEAR

4,958,738

4,826,399

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

6,597,366

4,771,560

6,597,366

4,771,560

CURRENT ASSETS

Stocks

11

2,644,535

2,402,790

Debtors

12

2,477,754

2,769,603

Cash at bank

811,497

748,592

5,933,786

5,920,985

CREDITORS

Amounts falling due within one year

13

3,947,356

2,869,795

NET CURRENT ASSETS

1,986,430

3,051,190

TOTAL ASSETS LESS CURRENT LIABILITIES

8,583,796

7,822,750

CREDITORS

Amounts falling due after more than one year

14

(3,338,327

)

(2,814,922

)

PROVISIONS FOR LIABILITIES

18

(246,731

)

(141,429

)

NET ASSETS

4,998,738

4,866,399

CAPITAL AND RESERVES

Called up share capital

19

13,000

13,000

Capital redemption reserve

20

27,000

27,000

Retained earnings

20

4,958,738

4,826,399

SHAREHOLDERS' FUNDS

4,998,738

4,866,399

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

J Audley - Director

Cash flows from operating activities

Cash generated from operations

1

1,785,554

1,202,690

Interest paid

(198,070

)

(113,314

)

Interest element of hire purchase payments paid

(11,764

)

-

Tax paid

-

(353,795

)

Net cash from operating activities

1,575,720

735,581

Cash flows from investing activities

Purchase of tangible fixed assets

(2,134,654

)

(4,434,207

)

Sale of tangible fixed assets

1,417

-

Interest received

4,059

9,521

Net cash from investing activities

(2,129,178

)

(4,424,686

)

Cash flows from financing activities

New loans in year

-

2,936,250

New HP in year

795,864

-

Loan repayments in year

(74,915

)

(46,412

)

HP repayments in year

(24,486

)

-

Equity dividends paid

(80,100

)

(576,000

)

Net cash from financing activities

616,363

2,313,838

Increase/(decrease) in cash and cash equivalents

62,905

(1,375,267

)

Cash and cash equivalents at beginning of year

2

748,592

2,123,859

Cash and cash equivalents at end of year

2

811,497

748,592

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

2025

2024

£

£

Profit before taxation

317,741

1,137,503

Depreciation charges

308,848

193,640

Profit on disposal of fixed assets

(1,417

)

-

Finance costs

209,834

113,314

Finance income

(4,059

)

(9,521

)

830,947

1,434,936

(Increase)/decrease in stocks

(241,745

)

46,956

Decrease in trade and other debtors

291,849

206,025

Increase/(decrease) in trade and other creditors

904,503

(485,227

)

Cash generated from operations

1,785,554

1,202,690

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 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

811,497

748,592

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

748,592

2,123,859

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.4.24

Cash flow

changes

At 31.3.25

£

£

£

£

Net cash

Cash at bank

748,592

62,905

811,497

748,592

62,905

811,497

Debt

Finance leases

-

(771,378

)

(812,323

)

(771,378

)

Debts falling due

within 1 year

(74,914

)

(8,421

)

-

(83,335

)

Debts falling due

after 1 year

(2,814,922

)

83,336

-

(2,731,586

)

(2,889,836

)

(696,463

)

(812,323

)

(3,586,299

)

Total

(2,141,244

)

(633,558

)

(812,323

)

(2,774,802

)

1.	STATUTORY INFORMATION

Parkside Steel (Stockholders) Ltd 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.

Turnover

Turnover represents amounts invoiced during the period, excluding discounts, rebates and value added tax.

Turnover is recognised at the point the goods are dispatched.

Intangible assets

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

Tangible fixed assets

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

Long leasehold

-

2% on cost

Improvements to property

-

10% - 20% on cost

Plant and machinery

-

10% - 25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

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

Stocks

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

slow moving items.

At each reporting date an assessment is made for impairment. Any excess of the carrying amount of stocks

over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or

loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,399,096

1,184,854

Social security costs

125,790

103,534

Other pension costs

28,593

23,853

1,553,479

1,312,241

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

2025

2024

Operations

16

15

Transport

9

6

Sales

8

6

Directors and administration

5

5

38

32

2025

2024

£

£

Directors' remuneration

71,686

70,140

Directors' pension contributions to money purchase schemes

1,321

1,321

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

Money purchase schemes

1

1

4.	OPERATING PROFIT

2025

2024

£

£

Other operating leases

318,324

266,482

Depreciation - owned assets

308,848

193,640

Profit on disposal of fixed assets

(1,417

)

-

Auditors' remuneration

15,750

18,000

Auditors' remuneration - prior year adjustment

(2,907

)

-

Auditors' remuneration - non audit services

5,496

-

Foreign exchange differences

(5,295

)

317

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

193,958

113,314

HMRC interest

4,112

-

Hire purchase

11,764

-

209,834

113,314

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

Tax saving owed to group

-

278,014

Deferred tax

105,302

25,890

Tax on profit

105,302

303,904

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:

2025

2024

£

£

Profit before tax

317,741

1,137,503

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

79,435

284,376

Effects of:

Expenses not deductible for tax purposes

117

83

Capital allowances in excess of depreciation

(396,413

)

(6,445

)

Utilisation of tax losses

316,861

(278,014

)

Deferred tax

105,302

25,890

Tax savings owed to group members

-

278,014

Total tax charge

105,302

303,904

The company utilised group losses for Corporation Tax purposes in 2024. The tax saving is owed to these group members, as at 31 March 2025 £208,511 (2024: £278,014) was owed.

7.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

80,100

576,000

8.	PENSION CONTRIBUTIONS

The company operates a defined contribution scheme. The assets are managed independently of the company and contributions are charged to the Profit and Loss Account in the period in which they are made. The charge for the year was £28,593 (2024 - £23,853).

9.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2024

and 31 March 2025

54,765

AMORTISATION

At 1 April 2024

and 31 March 2025

54,765

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

10.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2024

4,215,902

260,917

642,686

Additions

963,625

-

738,236

Disposals

-

-

(29,620

)

At 31 March 2025

5,179,527

260,917

1,351,302

DEPRECIATION

At 1 April 2024

53,207

216,920

384,153

Charge for year

95,500

26,823

72,288

Eliminated on disposal

-

-

(29,620

)

At 31 March 2025

148,707

243,743

426,821

NET BOOK VALUE

At 31 March 2025

5,030,820

17,174

924,481

At 31 March 2024

4,162,695

43,997

258,533

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

123,802

342,286

32,390

5,617,983

Additions

394,281

-

38,512

2,134,654

Disposals

-

-

-

(29,620

)

At 31 March 2025

518,083

342,286

70,902

7,723,017

DEPRECIATION

At 1 April 2024

64,018

103,334

24,791

846,423

Charge for year

38,428

68,457

7,352

308,848

Eliminated on disposal

-

-

-

(29,620

)

At 31 March 2025

102,446

171,791

32,143

1,125,651

NET BOOK VALUE

At 31 March 2025

415,637

170,495

38,759

6,597,366

At 31 March 2024

59,784

238,952

7,599

4,771,560