MIDLAND STEEL TRADERS 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

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared financial projections through to 30 June 2026 in order to make an assessment of going concern of the Company. Key inputs in the assessment have been assumptions for revenue growth, gross margin and working capital. Also the directors have had regard for the Company's financing arrangements and are satisfied that the facilities available will give sufficient headroom to manage and grow the business. The financial projections have been sensitised based on various levels of revenue and assessed against the available cash headroom. Under these sensitivities the directors are satisfied that they would have sufficient available cash to meet their liabilities as they fall due. Contingency plans for various scenarios have been considered to preserve financial resources as would be required. Overall the board are positive about the future EBITDA trajectory of the company and continue to manage the cash position of the company carefully. After taking into account the above factors, the directors are satisfied that the business is able to continue to meet its liabilities as they fall due and as such have continued to prepare the accounts on a going concern basis.”

Significant events

• “2024 Results include a provision for £102,000 (2023 - £Nil) relating to a fine related to breach of HSE regulations. This fine was crystallised in magistrates court in February 2025”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +10%

  £18,822,075 → £20,700,662

• Cash

  -15.2%

  £304,177 → £257,923

• Net assets

  +12.5%

  £4,779,491 → £5,377,595

• Employees

  -1.2%

  86 → 85

• Operating profit

  +3.8%

  £1,060,675 → £1,101,037

• Profit before tax

  +5.2%

  £818,471 → £860,766

• Wages

  +1.7%

  £3,203,097 → £3,256,196

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