Priory Steel Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02940278 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Priory Steel Group Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

I R Cross

B H Davies

J Cross

SECRETARY:

B H Davies

REGISTERED OFFICE:

Central Trading Estate Units 27 - 29

Cable Street

Wolverhampton

West Midlands

WV2 2RL

REGISTERED NUMBER:

02940278 (England and Wales)

ACCOUNTANTS:

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Priory Steel Group Limited for the year ended 31 December 2025 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Priory Steel Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Priory Steel Group Limited and state those matters that we have agreed to state to the Board of Directors of Priory Steel Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Priory Steel Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Priory Steel Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Priory Steel Group Limited. You consider that Priory Steel Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Priory Steel Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

2 April 2026

FIXED ASSETS

Tangible assets

4

318,901

332,364

CURRENT ASSETS

Stocks

512,768

618,248

Debtors

5

1,193,673

1,110,633

Cash at bank

511,384

455,330

2,217,825

2,184,211

CREDITORS

Amounts falling due within one year

6

(800,795

)

(784,218

)

NET CURRENT ASSETS

1,417,030

1,399,993

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,735,931

1,732,357

PROVISIONS FOR LIABILITIES

(1,487

)

(2,594

)

NET ASSETS

1,734,444

1,729,763

CAPITAL AND RESERVES

Called up share capital

50,000

Non distributable reserve

7

106,332

Retained earnings

1,578,112

1,573,431

1,734,444

1,729,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2026 and were signed on its behalf by:

J Cross - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

2% on straight line

Plant and machinery

-

33% on cost and 15% on cost

Fixtures, fittings & equipment

-

33% on cost and 20% on cost

Motor vehicles

-

33% on cost and 20% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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

The average number of employees during the year was 19 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Freehold

Plant and

fittings

Motor

property

machinery

& equipment

vehicles

Totals

£

COST

At 1 January 2025

and 31 December 2025

514,390

305,862

116,616

12,945

949,813

DEPRECIATION

At 1 January 2025

204,810

284,807

114,887

12,945

617,449

Charge for year

6,288

6,062

1,113

-

13,463

At 31 December 2025

211,098

290,869

116,000

12,945

630,912

NET BOOK VALUE

At 31 December 2025

303,292

14,993

616

-

318,901

At 31 December 2024

309,580

21,055

1,729

-

332,364

Freehold land and buildings includes a revalued amount of £400,000. The revaluation was completed in 1994 and the company has taken advantage of the transitional exemptions of FRS 102 to retain this book value as 'deemed cost'.

Included in freehold land and buildings is freehold land amounting to £200,000 (2024 - £200,000) which is not depreciated.

5.

DEBTORS

2025

2024

£

Amounts falling due within one year:

Trade debtors

529,120

548,460

Other debtors

49,824

47,444

578,944

595,904

Amounts falling due after more than one year:

Amounts owed by group undertakings

614,729

514,729

Aggregate amounts

1,193,673

1,110,633

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

548,443

455,907

Taxation and social security

93,273

93,174

Other creditors

159,079

235,137

800,795

784,218

7.	NON DISTRIBUTABLE RESERVE

Non

distributable

reserve

£

At 1 January 2025

and 31 December 2025

106,332

8.	ULTIMATE CONTROLLING PARTY

The company is a 100% wholly owned subsidiary of Priory Steel Holdings Limited which is registered at Central Trading Estate, Units 27-29 Cable Street, Wolverhampton, West Midlands, WV2 2RL.