GENESIS STEEL (OMAGH) LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

• Turnover

  -33.3%

  £22,497,819 → £15,000,987

• Cash

  -82.6%

  £67,437 → £11,704

• Net assets

  -19.2%

  £2,037,630 → £1,645,868

• Employees

  -7.7%

  13 → 12

• Operating profit

  -71.8%

  £1,702,389 → £480,864

• Profit before tax

  -77.8%

  £1,560,702 → £345,863

• Wages

  -9%

  £454,011 → £413,363

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

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

JS. Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “The financial year saw a weakening in demand for steel both domestically and internationally. This resulted in reduced sales volumes and margins which, in turn, translated into lower sales revenues and gross profit. Nonetheless, despite the adverse trading conditions, the company was able to navigate the financial year and still register a profit before tax.”
• “At the end of the financial year, the company's steel stocks largely reflected the lower prices that had prevailed during the course of the year. So it had successfully achieved a de-risking of its stock position as prices had fallen.”
• “Following the end of the financial year, sales volumes have remained relatively modest, but there have been some signs that steel prices have stabilised and may be beginning to rise. If so, the company should be well-placed to benefit from improving market conditions as much of its stock has been purchased at what will have been the bottom of the market.”

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

Filings

6

last 12 months

Capital events

3

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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