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Registered number: 08093234 CONCORDE METALS LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 APRIL 2025
CONCORDE METALS LIMITED REGISTERED NUMBER: 08093234 BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 235,162 |  | 367,571
Current assets |  |  |  |  |
Stocks | 6 | 939,090 |  | 2,157,471 |
Debtors: amounts falling due within one year | 7 | 5,137,861 |  | 4,671,481 |
Cash at bank and in hand | 8 | 154,755 |  | 129,449 |
|  | 6,231,706 |  | 6,958,401 |
Creditors: amounts falling due within one year | 9 | (2,666,377) |  | (3,892,350) |
Net current assets |  |  | 3,565,329 |  | 3,066,051
Total assets less current liabilities |  |  | 3,800,491 |  | 3,433,622
Creditors: amounts falling due after more than one year | 10 |  | (42,000) |  | (60,000)
Provisions for liabilities |  |  |  |  |
Deferred tax | 12 |  | - |  | (80,988)
Other provisions | 13 |  | (1,670,247) |  | -
Net assets |  |  | 2,088,244 |  | 3,292,634
Capital and reserves |  |  |  |  |
Called up share capital | 14 |  | 1 |  | 1
Profit and loss account |  |  | 2,088,243 |  | 3,292,633
|  |  | 2,088,244 |  | 3,292,634
Page 1
CONCORDE METALS LIMITED REGISTERED NUMBER: 08093234 BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr P A Hyams
Director
Date: 4 November 2025
The notes on pages 4 to 13 form part of these financial statements. Page 2
CONCORDE METALS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 May 2024 | 1 | 3,292,633 | 3,292,634
Loss for the year | - | (1,044,390) | (1,044,390)
Dividends | - | (160,000) | (160,000)
At 30 April 2025 | 1 | 2,088,243 | 2,088,244
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 May 2023 | 1 | 2,652,575 | 2,652,576
Profit for the year | - | 640,058 | 640,058
At 30 April 2024 | 1 | 3,292,633 | 3,292,634
| The notes on pages 4 to 13 form part of these financial statements.
Page 3
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
Concorde Metals Limited is a private company limited by shares and incorporated in England and Wales. The registered office of the company is Plantation Works, Eurolink Way, Sittingbourne, Kent, ME10 3HH. The principal activity of the company during the year has been that of secondary metal recycling. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the company has transferred the significant risks and rewards of ownership to the buyer; ∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 4
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.3 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 15% reducing balance
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Office equipment | - | 33.33% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.4 | 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 weighted average basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 5
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.9 | Debt factoring
The company factors its trade debts. The accounting policy is to include trade debtors factored with recourse within trade debtors due within one year and the returnable element of proceeds is recorded within bank overdrafts due within one year. Factoring fees and interest are charged to the statement of comprehensive income when paid. Bad debts are borne by the company and are charged to the statement of comprehensive income when incurred.
| 2.10 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds. Page 6
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.12 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 7
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.13 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
a) Critical judgements in applying the company's accounting policies No significant judgements have had to be made by management in preparing these financial statements. b) Key accounting estimates and assumptions The company has made key assumptions regarding the useful economic life of tangible fixed assets and this is further described in note 2.3 of the accounting policies. The company holds a significant amount of stock and is subject to changing customer demands and industry trends. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around the anticipated saleability of the stock. The stock value, net of provision is shown in note 8.
4. | Employees
| The average monthly number of employees, including directors, during the year was 4 (2024 - 6).
Page 8
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
5. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 May 2024 | 243,478 | 381,735 | 44,170 | 669,383
| Additions | 397 | - | - | 397
| Disposals | (42,875) | (173,845) | - | (216,720)
| At 30 April 2025 | 201,000 | 207,890 | 44,170 | 453,060
| Depreciation |  |  |  |
| At 1 May 2024 | 84,768 | 172,874 | 44,170 | 301,812
| Charge for the year on owned assets | 15,377 | 20,093 | - | 35,470
| Charge for the year on financed assets | 8,488 | 32,122 | - | 40,610
| Disposals | (31,776) | (128,218) | - | (159,994)
| At 30 April 2025 | 76,857 | 96,871 | 44,170 | 217,898
| Net book value |  |  |  |
| At 30 April 2025 | 124,143 | 111,019 | - | 235,162
| At 30 April 2024 | 158,710 | 208,861 | - | 367,571
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Plant and machinery | 38,171 | 56,590
| Motor vehicles | 84,392 | 128,487
|  | 122,563 | 185,077
Page 9
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 939,090 | 2,157,471
|  | 939,090 | 2,157,471
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 4,021,660 | 3,913,154
| Amounts owed by group undertakings | 38,100 | 1
| Other debtors | 782,281 | 623,703
| Prepayments and accrued income | 261,621 | 134,623
| Deferred taxation | 34,199 | -
|  | 5,137,861 | 4,671,481
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 154,755 | 129,449
| Less: bank overdrafts | (735,683) | (1,987,808)
|  | (580,928) | (1,858,359)
Page 10
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 735,683 | 1,987,808
| Trade creditors | 1,157,443 | 1,401,214
| Amounts owed to group undertakings | 612,565 | 487,434
| Other taxation and social security | 2,360 | 1,118
| Obligations under finance lease and hire purchase contracts | 18,000 | 34,876
| Accruals and deferred income | 140,326 | (20,100)
|  | 2,666,377 | 3,892,350
| Bank loans and overdrafts are secured by way of a debenture including a fixed charge over all present freehold and leasehold property; first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future, and first floating charge over all assets and undertakings both present and future. Assets held under hire purchase contracts are secured against the assets to which they relate.
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 42,000 | 60,000
|  | 42,000 | 60,000
11. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 18,000 | 34,875
| Between 1-5 years | 18,000 | 18,000
| Over 5 years | 24,000 | 42,000
|  | 60,000 | 94,875
Page 11
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
12. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (80,988) | (68,147)
| Charged to profit or loss | 115,187 | (12,841)
| At end of year | 34,199 | (80,988)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 57,561 | 80,988
| Tax losses carried forward | 91,760 | -
|  | (34,199) | 80,988
13. | Provisions
|  | Provision
|  | £
| Charged to profit or loss | 1,670,247
| At 30 April 2025 | 1,670,247
Page 12
CONCORDE METALS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 13.Provisions (continued)
| .During the year, the company had a compliance visit from HMRC regarding over-claimed vat on supplies. Currently HMRC believe this amount to be £1,670,247. This balance is disputed and is currently undergoing investigation and review with an independent tribunal. The outcome of this is unknown at this point and therefore the directors consider the recognition of the provision in the accounts is appropriate given that the potential liability existed at the balance sheet date.
14. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary share of £1.00 | 1 | 1
15. | Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,189 (2024: £1,467).
16. | Controlling party
The ultimate parent company is A.P.M Holdings Limited, a company incorporated in England and Wales, which is controlled by Mr P A Hyams by virtue of his majority shareholding.
17. | Auditor's information
The auditor's report on the financial statements for the year ended 30 April 2025 was unqualified. The audit report was signed on 4 November 2025 by Duncan Stannett (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
Page 13