| Registered number: 4753738 | ||||||||
| FOR THE YEAR ENDED 31/12/2024 | ||||||||
| Prepared By: | ||||||||
| Harvey Guinan LLP | ||||||||
| Chartered Certified Accountants | ||||||||
| Unit 17 Mersey House | ||||||||
| Matchworks Estate, 140 Speke Road | ||||||||
| Liverpool | ||||||||
| Merseyside | ||||||||
| L19 2PH | ||||||||
| MDR Interiors Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THE YEAR ENDED 31/12/2024 | ||||||||
| DIRECTORS | ||||||||
| REGISTERED OFFICE | ||||||||
| Merseyside | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by shares registered in EW - England and Wales, registered number 4753738 | ||||||||
| BANKERS | ||||||||
| Lloyds Bank plc | ||||||||
| ACCOUNTANTS | ||||||||
| Harvey Guinan LLP | ||||||||
| Chartered Certified Accountants | ||||||||
| Unit 17 Mersey House | ||||||||
| Matchworks Estate, 140 Speke Road | ||||||||
| Liverpool | ||||||||
| Merseyside | ||||||||
| L19 2PH | ||||||||
| MDR Interiors Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED31/12/2024 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 4 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| MDR Interiors Limited | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 2 | |||||||||
| CURRENT ASSETS | ||||||||||
| Stock | ||||||||||
| Debtors | 4 | |||||||||
| Cash at bank and in hand | ||||||||||
| 4,415,754 | 4,304,118 | |||||||||
| CREDITORS: Amounts falling due within one year | 5 | |||||||||
| NET CURRENT ASSETS | 1,122,552 | |||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CREDITORS: Amounts falling due after more than one year | 6 | 47,380 | 82,915 | |||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 9 | |||||||||
| Profit and loss account | 2,014,356 | 1,555,477 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| MDR Interiors Limited | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 31/12/2024 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. Basis Of Accounting FRS | ||||||||
| The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. | ||||||||
| These financial statements have been prepared in accordance with FRS 102 section 1a- The Financial Reporting Standard applicable in the UK - and the Companies Act 2006. | ||||||||
| 1b. Depreciation | ||||||||
| Short Leasehold Properties | straight line10% | |||||||
| Plant And Machinery | reducing balance20% | |||||||
| Equipment | reducing balance20% | |||||||
| Motor Cars | reducing balance25% | |||||||
| MDR Interiors Limited | ||||||||
| 1c. Stocks | ||||||||
| Stock and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
| When stocks and work in progress are sold, the carrying amount of those items is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks and work in progress to net realisable value is recognised as an expense in the period in which the write-down occurs. | ||||||||
| 1d. Pension Costs | ||||||||
| The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. | ||||||||
| 1e. Leasing Commitments | ||||||||
| Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review. | ||||||||
| 1f. Leases | ||||||||
| Assets obtained under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. Obligations under such agreements are included in creditors net of the finance charges allocated to future periods. The finance charge element of the rental payment is charged to the profit and loss account so as to produce a constant rate of charge on the net obligation outstanding in each period. | ||||||||
| MDR Interiors Limited | ||||||||
| 2. TANGIBLE FIXED ASSETS | ||||||||||
| Short Leasehold | Plant and | |||||||||
| Properties | Machinery | Equipment | Motor Cars | Total | ||||||
| £ | £ | £ | £ | £ | ||||||
| Cost | ||||||||||
| At 01/01/2024 | 31,244 | 422,974 | 88,892 | 529,502 | 1,072,612 | |||||
| Additions | - | 8,412 | - | 55,490 | 63,902 | |||||
| Disposals | - | - | - | (113,181) | (113,181) | |||||
| At 31/12/2024 | 31,244 | 431,386 | 88,892 | 471,811 | 1,023,333 | |||||
| Depreciation | ||||||||||
| At 01/01/2024 | 27,279 | 129,967 | 69,643 | 217,976 | 444,865 | |||||
| Disposals | - | - | - | (79,764) | (79,764) | |||||
| For the year | 3,124 | 35,618 | 3,724 | 88,319 | 130,785 | |||||
| At 31/12/2024 | 30,403 | 165,585 | 73,367 | 226,531 | 495,886 | |||||
| Net Book Amounts | ||||||||||
| At 31/12/2024 | 841 | 527,447 | ||||||||
| At 31/12/2023 | 3,965 | 627,747 | ||||||||
| 3. STOCK | 2024 | 2023 | ||||
| £ | £ | |||||
| Stock comprises: | ||||||
| Stock raw materials | 118,034 | 135,881 | ||||
| Work in progress | ||||||
| 4. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Trade debtors | 749,696 | 1,411,316 | ||||||
| Other debtors | 231,611 | 149,328 | ||||||
| Prepayments | 223,352 | 251,755 | ||||||
| 1,204,659 | 1,812,399 | |||||||
| MDR Interiors Limited | ||||||||
| 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| UK corporation tax | 729,670 | 985,788 | ||||||
| Other tax and social security | 957,375 | 947,994 | ||||||
| Net Obligations Finance Leases and Hire Purchase | 35,535 | 58,372 | ||||||
| Trade creditors | 592,444 | 591,928 | ||||||
| Other creditors | 474,304 | 597,484 | ||||||
| 2,789,328 | 3,181,566 | |||||||
| 6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Net Obligations Finance Leases and Hire Purchase >1yr | 47,380 | 82,915 | ||||||
| 47,380 | 82,915 | |||||||
| 7. EMPLOYEES | ||||||||
| 2024 | 2023 | |||||||
| No. | No. | |||||||
| Average number of employees | 45 | |||||||
| The average number of employees in both years was 45 (Management 4 Administration 3 Production and Technical 38). | ||||||||
| MDR Interiors Limited | ||||||||
| 8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | 92,136 | 111,906 | ||||||
| 92,136 | 111,906 | |||||||
| 9. SHARE CAPITAL | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 1 | 1 | |||||||
| 1 | 1 | |||||||
| 10. CONTROLLING PARTY | ||||||||
| The immediate and ultimate parent undertaking and controlling party is MDR Interiors Group Limited (Registered Company number 14597661), which prepares its own financial statements. The registered office of MDR Interiors Group Limited is Unit 7, Compass Industrial Estate, Blenheim Way, Liverpool L24 1YH. The principal activity of MDR Interiors Group Limited is that of a holding company that does not trade. | ||||||||
| MDR Interiors Limited | ||||||||
| 11. GENERAL INFORMATION | ||||||||
| The company is incorporated in England, company number 4753738. Its registered office address is Unit 7 Compass East, Blenheim Way, Liverpool L24 1YH. The functional currency of the company is the pound sterling. | ||||||||
| The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the company continues to adopt the going concern basis of accounting in preparing the financial statements. | ||||||||
| 12. OTHERCOMMITMENTS | ||||||||
| The company has annual leasing commitments on leases due to expire between one and five years of £78,729 (2022 £78,729). | ||||||||
| 13. EVENTSINCETHEYEAREND | ||||||||
| There are no significant events since the year end to report. | ||||||||
| 14. GUARANTEE | ||||||||
| MDR Interiors Limited has guaranteed the performance of MDR Interiors Group Limited in respect of the parent company's obligations under a Share Purchase Agreement until the parent company's liability is paid. | ||||||||
| 15. CONTINGENT LIABILITIES | ||||||||
| At 31 December 2024 there are no contingent liabilitites requiring disclosure. | ||||||||