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REGISTERED NUMBER: 00644778 (England and Wales)












Financial Statements

for the Year Ended 30 September 2024

for

M.F.C. International Limited

M.F.C. International Limited (Registered number: 00644778)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


M.F.C. International Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M B Simpson
A Ribic
L Arneau



SECRETARY: M B Simpson



REGISTERED OFFICE: Shadwell House
65 Lower Green Road
Rusthall
Tunbridge Wells
Kent
TN4 8TW



REGISTERED NUMBER: 00644778 (England and Wales)



SENIOR STATUTORY AUDITOR: Aidan Smyth



AUDITORS: Peter Hodgson & Co. Ltd. (Statutory Auditor)
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

M.F.C. International Limited (Registered number: 00644778)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,451 1,103
Property, plant and equipment 5 1,490,782 1,572,546
1,493,233 1,573,649

CURRENT ASSETS
Inventories 6 1,226,357 1,355,762
Debtors 7 711,464 581,126
Cash at bank 125,609 198,069
2,063,430 2,134,957
CREDITORS
Amounts falling due within one year 8 341,346 352,218
NET CURRENT ASSETS 1,722,084 1,782,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,215,317

3,356,388

CREDITORS
Amounts falling due after more than one
year

9

(6,139,988

)

(5,772,290

)

PROVISIONS FOR LIABILITIES 10 (71,966 ) (62,757 )
NET LIABILITIES (2,996,637 ) (2,478,659 )

CAPITAL AND RESERVES
Called up share capital 11 5,397 5,397
Revaluation reserve 12 53,262 53,262
Retained earnings 12 (3,055,296 ) (2,537,318 )
SHAREHOLDERS' FUNDS (2,996,637 ) (2,478,659 )

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 30 May 2025 and were signed on its behalf by:





M B Simpson - Director


M.F.C. International Limited (Registered number: 00644778)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

M.F.C. International 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.

Significant judgements and estimates
There are no specific significant judgements or estimates pertaining to these accounts.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost (buildings only)
Plant & equipment - 15% on reducing balance
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

M.F.C. International Limited (Registered number: 00644778)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments comprising debtors, bank and cash balances are recorded at fair value.

Functional currency
The functional currency of the company is £ Sterling.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Trademarks
£   
COST
At 1 October 2023 7,548
Additions 2,040
At 30 September 2024 9,588
AMORTISATION
At 1 October 2023 6,445
Amortisation for year 692
At 30 September 2024 7,137
NET BOOK VALUE
At 30 September 2024 2,451
At 30 September 2023 1,103

M.F.C. International Limited (Registered number: 00644778)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant & and Motor
property equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 1,306,972 1,080,490 152,389 9,249 2,549,100
Additions - 2,728 5,154 - 7,882
At 30 September 2024 1,306,972 1,083,218 157,543 9,249 2,556,982
DEPRECIATION
At 1 October 2023 147,226 677,639 142,440 9,249 976,554
Charge for year 22,139 61,008 6,499 - 89,646
At 30 September 2024 169,365 738,647 148,939 9,249 1,066,200
NET BOOK VALUE
At 30 September 2024 1,137,607 344,571 8,604 - 1,490,782
At 30 September 2023 1,159,746 402,851 9,949 - 1,572,546

6. INVENTORIES
2024 2023
£    £   
Stock & work in progress 1,226,357 1,355,762

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 477,709 461,921
VAT - 9,762
Prepayments & other debtors 233,755 109,443
711,464 581,126

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 9,500
Trade creditors 106,145 161,866
VAT 25,498 -
PAYE & social security 23,224 24,735
Accruals & others 176,479 156,117
341,346 352,218

M.F.C. International Limited (Registered number: 00644778)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,052 19,590
Amounts owed to group undertakings 6,130,936 5,752,700
6,139,988 5,772,290

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 71,966 62,757

Deferred
tax
£   
Balance at 1 October 2023 62,757
Provided during year 9,209
Balance at 30 September 2024 71,966

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,397 Ordinary £1 5,397 5,397

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 (2,537,318 ) 53,262 (2,484,056 )
Deficit for the year (517,978 ) (517,978 )
At 30 September 2024 (3,055,296 ) 53,262 (3,002,034 )

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aidan Smyth (Senior Statutory Auditor)
for and on behalf of Peter Hodgson & Co. Ltd. (Statutory Auditor)

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

M.F.C. International Limited (Registered number: 00644778)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

15. ULTIMATE CONTROLLING PARTY

Respirex International Limited owns 100% of the share capital in the company.

M B Simpson is the ultimate controlling party by virtue of his majority shareholding in Respirex International Limited.

16. GOING CONCERN

The directors consider the company to be a going concern and have confirmed that it has the continued financial support of its holding company Respirex International Limited.