The monument consists of the remains of the Dalmellington Iron Works and associated buildings and structures.
This scheduling replaces an earlier scheduling of the core of the site, and reflects a new appreciation of the importance of this complex. It includes the remains of the ironworks itself, its more important supporting buildings, the sites of some of the ironworkers' housing, the railway station, and some of the ore calcining hearths and stocking areas associated with the works, together with the water supply route from the Dunaskin Burn.
The scheduled area is irregular, roughly rectangular in plan, approximately 1400m by 500m. The boundary on the WSW is the NNE boundary of the former route of the A713 road, excluding the boundary wall and fence. On the SSE side the boundary runs 100m to the SSE of the straight section of Dunaskin Glen, then takes in the body of the glen as far as the water intake point. On the ENE the boundary follows the line of the boundary of the ground leased by to a point due north of the former village institute.
It then detours round three cottages and the institute, returning to take in the site of Waterside Station before rejoining the main WSW boundary. Specifically excluded from the scheduling are Greenhill Cottage and its garden, the track of the British Rail/British Coal Corporation railway through the site, and boundary fencing not already specified.
Amended in 2011 to exclude the buildings and garden ground at national grid references NS 4399 0844 and NS 4397 0845, previously used as the Waterside Iron Offices and immediately south east of the bowling green.
Further amended in 2018 to specifically exclude Waterside Engine House.