Company registration number 14903542 (England and Wales)
MOSTYN INDUSTRIALS LTD.
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MOSTYN INDUSTRIALS LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MOSTYN INDUSTRIALS LTD.
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Current assets
Stocks
4,959,479
Debtors
3
1,497,705
6,457,184
Creditors: amounts falling due within one year
4
(10,590,973)
Net current liabilities
(4,133,789)
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
(4,133,889)
Total equity
(4,133,789)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
Mr N Wolf
Director
Company registration number 14903542 (England and Wales)
MOSTYN INDUSTRIALS LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Mostyn Industrials Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, Manfield House, 1 Southampton Street, London, WC2R 0LR.

1.1
Reporting period

The financial statements have been prepared from the date of incorporation on 30 May 2023 to 31 December 2023. This accounting date has been adopted in order to align the company with its parent company.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. true

The immediate parent company has confirmed they will provide continued financial support to allow the company to trade and continue to meet its liabilities as and when they fall due for at least 12 months from the date of signing the financial statements, the director believes the going concern assumption would continue to be valid. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MOSTYN INDUSTRIALS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

MOSTYN INDUSTRIALS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
Number
Total
1
3
Debtors
2023
Amounts falling due within one year:
£
Other debtors
1,497,705
4
Creditors: amounts falling due within one year
2023
£
Trade creditors
6,646
Amounts owed to group undertakings
10,530,290
Other creditors
54,037
10,590,973
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of 1p each
10,000
100

During the period 10,000 ordinary shares were issued for cash at £0.01 each. All shares carry a full voting, dividend and capital distribution (including on winding up) rights and do not confer any rights of redemption.

6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Nicholas Nicolaou FCCA
Statutory Auditor:
Alliotts LLP
Date of audit report:
4 October 2024
MOSTYN INDUSTRIALS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
7
Events after the reporting date

Following the year end the company has commenced negotiations with interested parties in relation to the sale of the company, At the date of signing the accounts no formal agreement has been reached.

8
Related party transactions
2023
Amounts due to related parties
£
Entities with control, joint control or significant influence over the company
10,391,353
Entities over which the entity has control, joint control or significant influence
138,937
Other information

The company has taken advantage of the exemption available in FRS 102 33.1A whereby disclosures need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

9
Parent company

The immediate parent company is International Chemicals Investors VI S.A a company incorporated and registered in Luxembourg with registered office at 2a, Rue des Capucins, 1313 Luxembourg.

The ultimate parent company is International Chemical Investors Group GmbH.

2023-12-312023-05-30false04 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMr N WolfMr T BarlowMr A FieldMr R Galefalsefalse2024-10-04149035422023-05-302023-12-31149035422023-12-3114903542core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114903542core:CurrentFinancialInstruments2023-12-3114903542core:ShareCapital2023-12-3114903542core:RetainedEarningsAccumulatedLosses2023-12-3114903542bus:Director12023-05-302023-12-3114903542core:WithinOneYear2023-12-3114903542core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2023-12-3114903542bus:PrivateLimitedCompanyLtd2023-05-302023-12-3114903542bus:SmallCompaniesRegimeForAccounts2023-05-302023-12-3114903542bus:FRS1022023-05-302023-12-3114903542bus:Audited2023-05-302023-12-3114903542bus:Director22023-05-302023-12-3114903542bus:Director32023-05-302023-12-3114903542bus:Director42023-05-302023-12-3114903542bus:FullAccounts2023-05-302023-12-31xbrli:purexbrli:sharesiso4217:GBP