Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-19false2024-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Manufacture of lifting and handling equipment4037truetruefalse 02559840 2024-01-01 2024-12-31 02559840 2023-01-01 2023-12-31 02559840 2024-12-31 02559840 2023-12-31 02559840 c:Director2 2024-01-01 2024-12-31 02559840 d:Buildings 2024-01-01 2024-12-31 02559840 d:Buildings 2024-12-31 02559840 d:Buildings 2023-12-31 02559840 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02559840 d:PlantMachinery 2024-01-01 2024-12-31 02559840 d:PlantMachinery 2024-12-31 02559840 d:PlantMachinery 2023-12-31 02559840 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02559840 d:MotorVehicles 2024-01-01 2024-12-31 02559840 d:MotorVehicles 2024-12-31 02559840 d:MotorVehicles 2023-12-31 02559840 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02559840 d:FurnitureFittings 2024-01-01 2024-12-31 02559840 d:FurnitureFittings 2024-12-31 02559840 d:FurnitureFittings 2023-12-31 02559840 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02559840 d:ComputerEquipment 2024-01-01 2024-12-31 02559840 d:ComputerEquipment 2024-12-31 02559840 d:ComputerEquipment 2023-12-31 02559840 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02559840 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02559840 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 02559840 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 02559840 d:CurrentFinancialInstruments 2024-12-31 02559840 d:CurrentFinancialInstruments 2023-12-31 02559840 d:Non-currentFinancialInstruments 2024-12-31 02559840 d:Non-currentFinancialInstruments 2023-12-31 02559840 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 02559840 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02559840 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 02559840 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02559840 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 02559840 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02559840 d:ShareCapital 2024-12-31 02559840 d:ShareCapital 2023-12-31 02559840 d:RetainedEarningsAccumulatedLosses 2024-12-31 02559840 d:RetainedEarningsAccumulatedLosses 2023-12-31 02559840 c:FRS102 2024-01-01 2024-12-31 02559840 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02559840 c:FullAccounts 2024-01-01 2024-12-31 02559840 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02559840 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 02559840 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 02559840 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 02559840 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 02559840 2 2024-01-01 2024-12-31 02559840 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 02559840 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 02559840










M & J (EUROPE) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
M & J (EUROPE) LIMITED
REGISTERED NUMBER: 02559840

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
103,779
146,014

Tangible assets
 5 
3,426,658
2,725,447

  
3,530,437
2,871,461

Current assets
  

Stocks
  
1,806,098
1,495,804

Debtors: amounts falling due within one year
 6 
1,805,077
1,788,164

Cash at bank and in hand
 7 
42,333
19,268

  
3,653,508
3,303,236

Creditors: amounts falling due within one year
 8 
(3,098,228)
(2,683,523)

Net current assets
  
 
 
555,280
 
 
619,713

Total assets less current liabilities
  
4,085,717
3,491,174

Creditors: amounts falling due after more than one year
 9 
(1,620,379)
(1,386,644)

Provisions for liabilities
  

Other provisions
  
(641,645)
(685,206)

  
 
 
(641,645)
 
 
(685,206)

Net assets
  
1,823,693
1,419,324


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Profit and loss account
  
1,803,693
1,399,324

  
1,823,693
1,419,324


Page 1

 
M & J (EUROPE) LIMITED
REGISTERED NUMBER: 02559840
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Michael William Garland
Director

Date: 19 May 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

M&J (Europe) Limited is a private company, limited by shares, registered in England and Wales.
The company's registered office address is as below:
Unit 28 Tafarnaubach Industrial Estate
Tafarnaubach
Tredegar
NP22 3AA

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

Going concern
In preparing the financial statements, the directors have considered the current financial position and
has also assessed the financial future of the business. The directors have concluded that it is
appropriate to prepare the financial statements on a going concern basis. In forming this conclusion
the directors have considered the company's net assets and the profit reported in the current financial
year.
After making enquiries, the directors have a reasonable expectation that the company has adequate
resources to continue in operational existence for the foreseeable future and to meet its financial
obligations as they fall due. Accordingly, the directors continue to adopt the going concern basis in
preparing the annual report and accounts.

Page 3

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 5

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods..

Depreciation is provided on the following basis:

Freehold property
-
20%
On Cost
Plant and machinery
-
10%
On reducing balance
Motor vehicles
-
25%
On reducing balance
Fixtures and fittings
-
10%
On reducing balance
Computer equipment
-
33%
On Cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 40 (2023 - 37).

Page 7

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Develop-ment  expenditure

£



Cost


At 1 January 2024
728,636



At 31 December 2024

728,636



Amortisation


At 1 January 2024
582,622


Charge for the year on owned assets
42,235



At 31 December 2024

624,857



Net book value



At 31 December 2024
103,779



At 31 December 2023
146,014



Page 8

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 January 2024
85,830
2,298,360
1,024,297
224,602
86,205


Additions
-
818,645
473,489
15,970
17,430


Disposals
-
-
(188,977)
-
-



At 31 December 2024

85,830
3,117,005
1,308,809
240,572
103,635



Depreciation


At 1 January 2024
56,742
580,994
190,626
102,784
62,701


Charge for the year on owned assets
9,947
214,039
253,738
13,247
8,352


Disposals
-
-
(63,977)
-
-



At 31 December 2024

66,689
795,033
380,387
116,031
71,053



Net book value



At 31 December 2024
19,141
2,321,972
928,422
124,541
32,582



At 31 December 2023
29,088
1,717,366
833,671
121,818
23,504
Page 9

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2024
3,719,294


Additions
1,325,534


Disposals
(188,977)



At 31 December 2024

4,855,851



Depreciation


At 1 January 2024
993,847


Charge for the year on owned assets
499,323


Disposals
(63,977)



At 31 December 2024

1,429,193



Net book value



At 31 December 2024
3,426,658



At 31 December 2023
2,725,447

Page 10

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,667,182
1,678,848

Amounts owed by group undertakings
57,120
35,138

Other debtors
78,904
40,378

Prepayments and accrued income
1,871
33,800

1,805,077
1,788,164



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
42,333
19,268

42,333
19,268



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
181,341
54,740

Other loans
20,000
25,617

Trade creditors
467,927
341,461

Amounts owed to group undertakings
582,246
893,293

Other taxation and social security
486,793
480,608

Hire Purchase
818,466
591,653

Other creditors
381,476
120,291

Accruals and deferred income
159,979
175,860

3,098,228
2,683,523


Page 11

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
75,000
14,672

Other loans
21,666
41,668

Hire Purchase
1,523,713
1,330,304

1,620,379
1,386,644



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
181,341
54,740

Other loans
20,000
25,617


201,341
80,357

Amounts falling due 1-2 years

Bank loans
75,000
14,672

Other loans
21,667
41,667


96,667
56,339



298,008
136,696



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
818,468
586,615

Between 1-5 years
1,523,713
1,330,306

2,342,181
1,916,921

Page 12

 
M & J (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
M Garland

2024
2023
        £
        £
Balance B/fwd

-

-
 
Amounts advanced

126,839

-
 
Repaid during the year

(123,984)

-
 
Amounts waived

-

-
 
Amounts written off

-

-
 
Balance C/fwd

2,855

-
 

C Garland

2024
2023
        £
        £
Balance B/fwd

-

-
 
Amounts advanced

48,302

-
 
Repaid during the year

(1,067)

-
 
Amounts waived

-

-
 
Amounts written off

-

-
 
Balance C/fwd

47,235

-
 

ME Garland

2024
2023
        £
        £
Balance B/fwd

4,000

-
 
Amounts advanced

613

4,000
 
Repaid during the year

-

-
 
Amounts waived

-

-
 
Amounts written off

-

-
 
Balance C/fwd

4,613

4,000
 

These loans are at an interest rate of 2.5%, and are repayable on demand.

 
Page 13