PARK SHEET METAL COMPANY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The ability of the company to continue to operate as a going concern is predicated on the ability of the group, of which the company is a part of, headed by Bayton Topco Limited to continue to operate as a going concern due to the cross guarantees being in place in relation to bank debt held with HSBC UK Bank plc. Throughout all of 2024 and at 31 December 2024 all covenants were met. For the reasons set out above, the directors have prepared the financial statements on a going concern basis and have concluded that there are no material uncertainties relating to going concern.”

Significant events

• “On 14 June 2024, the Debt Facility with HSBC UK Bank plc was amended and extended to December 2030 and the debt: equity profile of the group was rebalanced.”
• “a small round of redundancies which was completed in December 2024 in order to reduce this risk. This was further extended in January of 2025 in light of a continued softening in the market, but this was not committed to or foreseen at year end.”
• “During the previous year ended 31 December 2023, a customer went into administration resulting in a bad debt provision of £177,000 and stock provision including fixings of £341,000. This has been fully provided for in the year ended 31 December 2023 and has been classified as exceptional.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -15.9%

  £22,881,000 → £19,246,000

• Cash

  +274.6%

  £626,000 → £2,345,000

• Net assets

  +7.1%

  £5,312,000 → £5,690,000

• Employees

  -14.2%

  197 → 169

• Operating profit

  -13.1%

  £1,004,000 → £872,000

• Profit before tax

  -2.4%

  £836,000 → £816,000

• Wages

  -6.7%

  £6,370,000 → £5,941,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers