PROJECT STEEL MIDCO 2 LIMITED
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Next accounts due
2027-03-31 (in 10mo)
Last filed for 2024-12-31
Confirmation statement due
2026-12-27 (in 7mo)
Last made up 2025-12-13
Watchouts
None on the register
Cash
£22K
-0.4% vs 2023
Net assets
-£962K
-142.4% lowest in 5 filed years
Employees
4
0% vs 2023
Profit before tax
-£565K
-337.3% lowest in 5 filed years
Net assets
9-year trend · vs Consumer Discretionary median
Accounts
9-year trend · latest reflected 2024-12-31
| Metric | Trend | 2020-01-01 | 2020-12-31 | 2021-01-01 | 2021-12-31 | 2022-01-01 | 2022-12-31 | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | — | £774,810 | — | £792,826 | — | £773,675 | — | £893,398 | £930,582 | |
| Operating profit | — | -£86,393 | — | £63,896 | — | £70,238 | — | -£129,155 | -£564,800 | |
| Profit before tax | — | -£86,393 | — | £63,896 | — | £70,238 | — | -£129,155 | -£564,800 | |
| Net profit | — | -£86,393 | — | £63,896 | — | £70,512 | — | -£129,429 | -£564,800 | |
| Cash | — | £272,666 | — | £22,587 | — | £22,491 | — | £22,403 | £22,307 | |
| Total assets less current liabilities | — | -£401,704 | — | -£337,808 | — | -£267,296 | — | -£396,725 | -£961,525 | |
| Net assets | — | -£401,704 | — | -£337,808 | — | -£267,296 | — | -£396,725 | -£961,525 | |
| Equity | -£315,311 | -£401,704 | -£401,704 | -£337,808 | -£337,808 | -£267,296 | -£267,296 | -£396,725 | -£961,525 | |
| Average employees | — | 4 | — | 4 | — | 4 | — | 4 | 4 | |
| Wages | — | £545,178 | — | £553,555 | — | £583,188 | — | £685,660 | £699,714 | |
| Directors' remuneration | — | £545,178 | — | £553,555 | — | £583,188 | — | £715,492 | £699,714 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+4.2%
£893,398 £930,582
highest in 5 filed years
-
Cash
-0.4%
£22,403 £22,307
-
Net assets
-142.4%
-£396,725 -£961,525
lowest in 5 filed years
-
Employees
0%
4 4
-
Operating profit
-337.3%
-£129,155 -£564,800
lowest in 5 filed years
-
Profit before tax
-337.3%
-£129,155 -£564,800
lowest in 5 filed years
-
Wages
+2%
£685,660 £699,714
highest in 5 filed years
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-01-01 | 2020-12-31 | 2021-01-01 | 2021-12-31 | 2022-01-01 | 2022-12-31 | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | -11.2% | — | 8.1% | — | 9.1% | — | -14.5% | -60.7% | |
| Net margin | — | -11.2% | — | 8.1% | — | 9.1% | — | -14.5% | -60.7% | |
| Return on capital employed | — | 21.5% | — | -18.9% | — | -26.3% | — | 32.6% | 58.7% | |
| Current ratio | — | — | — | — | — | — | — | 0.98x | 0.94x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Forvis Mazars LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company itself has no significant external trading activity in the year other than salary costs which are recharged and this is expected to continue for at least twelve months from the sign off of the financial statements. The most significant liabilities falling due within one year are those owed to other group companies and the wider Group has confirmed support to the Company should it be required to meet liabilities as they fall due. On this basis the Company is not expected to have any unmet cash requirements for the foreseeable future and therefore the going concern basis remains appropriate.”
Group structure
- PROJECT STEEL MIDCO 2 LIMITED · parent
- Project Steel Bidco Limited 88%
- Utility Bidder Holdings Limited 88%
- Utility Bidder Limited 88%
Significant events
- “Utility Bidder Limited is one of the leading providers and over the period has continued to grow successfully with more customers using the services.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAKER, Nigel Alan | Director | 2020-10-13 | Sep 1968 | British |
| DRAKEFORD, Simon Scott | Director | 2025-11-24 | Oct 1972 | British |
| JONES, Lisa Leanne | Director | 2026-03-20 | May 1973 | British |
| NAYLOR, Alexander Nelson Russell | Director | 2025-03-31 | May 1975 | British |
| ROBSON, William Henry Mark | Director | 2019-07-24 | Jan 1963 | British |
| WOOD, Gregory Mark | Director | 2018-12-22 | Jul 1953 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| KING, Robert Douglas | Director | 2018-12-14 | 2018-12-22 |
| MORGAN, Jeremy Alexander | Director | 2018-12-14 | 2018-12-22 |
| SHAW, Christopher Neville | Director | 2018-12-22 | 2025-07-27 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Project Steel Midco 1 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-12-14 | Active |
Filing timeline
Last 20 of 32 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-06 | AA01 | accounts | Change account reference date company current extended | |
| 2026-05-06 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-03-22 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-06 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-24 | CH01 | officers | Change person director company with change date | |
| 2025-09-22 | AA | accounts | Accounts with accounts type full | |
| 2025-08-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-29 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-26 | AA | accounts | Accounts with accounts type full | |
| 2023-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-28 | AA | accounts | Accounts with accounts type full | |
| 2022-12-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-23 | AA | accounts | Accounts with accounts type full | |
| 2021-12-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-14 | AA | accounts | Accounts with accounts type full | |
| 2021-01-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-01-07 | AA | accounts | Accounts with accounts type full | |
| 2020-10-18 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.