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REGISTERED NUMBER: 01653162 (England and Wales)

METAL CABINET SALES LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2025

METAL CABINET SALES LIMITED (Registered number: 01653162)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

METAL CABINET SALES LIMITED

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | N Stacey

| Mrs J D Stacey

| REGISTERED OFFICE: | Units 1-3 Moorfield Road

| Moorfield Industrial Estate

| Yeadon

| Leeds

| West Yorkshire

| LS19 7BN

| REGISTERED NUMBER: | 01653162 (England and Wales)

| ACCOUNTANTS: | Maclean & Company

| 1 Park View Court

| St Paul's Road

| Shipley

| West Yorkshire

| BD18 3DZ

METAL CABINET SALES LIMITED (Registered number: 01653162)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 1 |  | 1 |  |

Tangible assets | 5 | 762,377 |  | 480,038 |  |

762,378 |  | 480,039 |  |

CURRENT ASSETS

Stocks | 50,518 |  | 25,137 |  |

Debtors | 6 | 902,507 |  | 595,538 |  |

Cash at bank and in hand | 312,270 |  | 220,234 |  |

1,265,295 |  | 840,909 |  |

CREDITORS

Amounts falling due within one year | 7 | 514,900 |  | 294,004 |  |

NET CURRENT ASSETS | 750,395 |  | 546,905 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,512,773 |  | 1,026,944 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (322,283 | ) | (245,776 | ) |

PROVISIONS FOR LIABILITIES | 10 | (190,326 | ) | (120,010 | ) |

NET ASSETS | 1,000,164 |  | 661,158 |  |

CAPITAL AND RESERVES

Called up share capital | 50 |  | 50 |  |

Capital redemption reserve | 11 | 50 |  | 50 |  |

Retained earnings | 11 | 1,000,064 |  | 661,058 |  |

SHAREHOLDERS' FUNDS | 14 | 1,000,164 |  | 661,158 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

METAL CABINET SALES LIMITED (Registered number: 01653162)

Balance Sheet - continued

31 March 2025

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:

N Stacey - Director

METAL CABINET SALES LIMITED (Registered number: 01653162)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| METAL CABINET SALES LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Leasehold improvements | - | 10% on reducing balance

| Machinery & equipment | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Stocks & work in progress

| Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Product design costs

| Expenditure on the specific development, design and implementation of new products and processes is amortised evenly over their estimated useful lives of five years.

METAL CABINET SALES LIMITED (Registered number: 01653162)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates several defined benefit pension schemes. Contributions payable in the year are charged in the profit and loss account.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 24 (2024 - 23 ) .

4. | INTANGIBLE FIXED ASSETS

| Product

| design

| costs

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 104,364 |  |

| AMORTISATION

| At 1 April 2024

| and 31 March 2025 | 104,363 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1 |  |

| At 31 March 2024 | 1 |  |

METAL CABINET SALES LIMITED (Registered number: 01653162)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS

| Leasehold |  | Machinery |  | Motor |

| improvements |  | & equipment |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 16,746 |  | 1,251,471 |  | 60,683 |  | 1,328,900 |  |

| Additions | - |  | 392,141 |  | 35,995 |  | 428,136 |  |

| Disposals | - |  | - |  | (19,522 | ) | (19,522 | ) |

| At 31 March 2025 | 16,746 |  | 1,643,612 |  | 77,156 |  | 1,737,514 |  |

| DEPRECIATION

| At 1 April 2024 | 15,551 |  | 798,306 |  | 35,005 |  | 848,862 |  |

| Charge for year | 120 |  | 126,796 |  | 14,248 |  | 141,164 |  |

| Eliminated on disposal | - |  | - |  | (14,889 | ) | (14,889 | ) |

| At 31 March 2025 | 15,671 |  | 925,102 |  | 34,364 |  | 975,137 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,075 |  | 718,510 |  | 42,792 |  | 762,377 |  |

| At 31 March 2024 | 1,195 |  | 453,165 |  | 25,678 |  | 480,038 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Machinery |  | Motor |

| & equipment |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 352,000 |  | 41,161 |  | 393,161 |  |

| Additions | 352,000 |  | - |  | 352,000 |  |

| At 31 March 2025 | 704,000 |  | 41,161 |  | 745,161 |  |

| DEPRECIATION

| At 1 April 2024 | 52,800 |  | 20,116 |  | 72,916 |  |

| Charge for year | 97,680 |  | 5,260 |  | 102,940 |  |

| At 31 March 2025 | 150,480 |  | 25,376 |  | 175,856 |  |

| NET BOOK VALUE

| At 31 March 2025 | 553,520 |  | 15,785 |  | 569,305 |  |

| At 31 March 2024 | 299,200 |  | 21,045 |  | 320,245 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 816,913 |  | 506,055 |  |

| Other debtors & prepayments | 85,594 |  | 89,483 |  |

902,507 |  | 595,538 |  |

METAL CABINET SALES LIMITED (Registered number: 01653162)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire purchase contracts | 162,717 |  | 93,135 |  |

| Trade creditors & accruals | 272,896 |  | 127,584 |  |

| Taxation | 79,287 |  | 73,285 |  |

514,900 |  | 294,004 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire purchase contracts | 322,283 |  | 245,776 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire purchase contracts | 485,000 |  | 338,911 |  |

| Bank borrowings are secured by a first ranking debenture over the assets of the company, except for a waiver on the book debts in favour of the debt factoring company.

| The Hire purchase creditor is secured against the asset to which it related (note 8).

10. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

£ | £ |

| Deferred tax | 190,326 |  | 120,010 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 120,010 |  |

| Charge to Income Statement during year | 70,316 |  |

| Balance at 31 March 2025 | 190,326 |  |

11. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 April 2024 | 661,058 |  | 50 |  | 661,108 |  |

| Profit for the year | 344,006 |  | - |  | 344,006 |  |

| Dividends | (5,000 | ) | - |  | (5,000 | ) |

| At 31 March 2025 | 1,000,064 |  | 50 |  | 1,000,114 |  |

METAL CABINET SALES LIMITED (Registered number: 01653162)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

12. | PENSION COMMITMENTS

| The company operates several defined benefit pension schemes, the assets of which are held separately from those of the company in independently administered funds. The pension cost charged for the year amounted to £32,029 (2024 - £33,580).

13. | RELATED PARTY DISCLOSURES

| During the year, the Company received goods and services, on normal commercial terms, totalling £363,888 (2024 - £321,779) from Jacksons Coatings Limited, a company in which N Stacey is director and shareholder. At the year end, the Company was owed £52,358 (2024 - £49,531) by Jacksons Coatings Limited.

14. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit for the financial year | 344,006 |  | 360,065 |  |

| Dividends | (5,000 | ) | (63,000 | ) |

| Payments to acquire own shares | - |  | (289,300 | ) |

| Net addition to shareholders' funds | 339,006 |  | 7,765 |  |

| Opening shareholders' funds | 661,158 |  | 653,393 |  |

| Closing shareholders' funds | 1,000,164 |  | 661,158 |  |