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REGISTERED NUMBER: 02838417 (England and Wales)















MALTHOUSE PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2024






MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MALTHOUSE PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2024







DIRECTORS: Mrs D Stockley
Mr M C Stockley
Mr M C Stockley





SECRETARY: Mrs J Pitney





REGISTERED OFFICE: Malt House Farm
Daniels Water
Great Chart
ASHFORD
Kent
TN26 1JY





REGISTERED NUMBER: 02838417 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

STATEMENT OF FINANCIAL POSITION
30 DECEMBER 2024

30.12.24 30.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 905,243 903,020
905,243 903,020

CURRENT ASSETS
Stocks 391,876 380,995
Debtors 7 365,075 391,731
Cash at bank 12,495 56,405
769,446 829,131
CREDITORS
Amounts falling due within one year 8 496,654 489,599
NET CURRENT ASSETS 272,792 339,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,178,035

1,242,552

CREDITORS
Amounts falling due after more than one
year

9

(117,094

)

(191,169

)

PROVISIONS FOR LIABILITIES - (16,925 )
NET ASSETS 1,060,941 1,034,458

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

STATEMENT OF FINANCIAL POSITION - continued
30 DECEMBER 2024

30.12.24 30.12.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 1,059,941 1,033,458
SHAREHOLDERS' FUNDS 1,060,941 1,034,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 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.

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:





Mrs D Stockley - Director


MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024

1. STATUTORY INFORMATION

Malthouse Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

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.
Improvements to property - not provided
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Government grants
During the year the company received the following revenue based grants.

Employment allowance to contribute towards the Employers National Insurance costs of employing staff.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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.

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research is written off in the year in which it is incurred. Development costs are capitalised due to the future economic benefit they provide to the company. Development costs are amortised over their estimated useful life of 3 years on a basis consistent with the estimated economic benefit they provide. The development costs are assessed for impairment at each reporting date and any impairment losses or reversals of impairments losses are recognised immediately in the profit or loss account.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 31 December 2023
and 30 December 2024 305,107
AMORTISATION
At 31 December 2023
and 30 December 2024 305,107
NET BOOK VALUE
At 30 December 2024 -
At 30 December 2023 -

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 31 December 2023 1,332,023 504,550 47,751
Additions 2,640 20,856 1,793
At 30 December 2024 1,334,663 525,406 49,544
DEPRECIATION
At 31 December 2023 566,239 413,236 42,318
Charge for year - 6,398 3,416
At 30 December 2024 566,239 419,634 45,734
NET BOOK VALUE
At 30 December 2024 768,424 105,772 3,810
At 30 December 2023 765,784 91,314 5,433

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 31 December 2023 60,009 165,226 2,109,559
Additions - 6,458 31,747
At 30 December 2024 60,009 171,684 2,141,306
DEPRECIATION
At 31 December 2023 42,049 142,697 1,206,539
Charge for year 10,310 9,400 29,524
At 30 December 2024 52,359 152,097 1,236,063
NET BOOK VALUE
At 30 December 2024 7,650 19,587 905,243
At 30 December 2023 17,960 22,529 903,020

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.24 30.12.23
£    £   
Trade debtors 298,902 248,543
Other debtors 42,252 42,252
Directors' Current Accounts - 99,436
Deferred tax asset 22,240 -
Prepayments 1,681 1,500
365,075 391,731

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.24 30.12.23
£    £   
Bank loans and overdrafts 73,291 66,149
Trade creditors 323,141 356,169
Other taxes and PAYE taxes 15,616 31,612
VAT 37,811 16,152
Other creditors 14,163 8,504
Directors' Current Accounts 25,322 1,508
Accruals and deferred income 7,310 9,505
496,654 489,599

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.12.24 30.12.23
£    £   
Bank loans - 1-2 years 80,941 73,361
Bank loans - 2-5 years 36,153 117,808
117,094 191,169

10. SECURED DEBTS

National Westminster Bank PLC has a fixed charge over the land vested in or charged to the company, all fixtures and fittings attached to that land, all plant and machinery, all the goodwill of the business and any uncalled capital. There is also a floating charge on all other property, assets and rights of the company owned now or in the future which are not subject to an effective fixed charge under the deed or under any other security held by the Bank.

The Co-Operative Bank P.L.C. holds a debenture over all property, a fixed charge over all other property and fixed assets. There is also a floating charge on all property and assets, whatever and wherever, both present and future.

MALTHOUSE PRODUCTS LIMITED (REGISTERED NUMBER: 02838417)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.12.24 30.12.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 December 2024 and 30 December 2023:

30.12.24 30.12.23
£    £   
Mr M C Stockley and Mrs D Stockley
Balance outstanding at start of year 99,436 338,749
Amounts advanced - 98,133
Amounts repaid (99,436 ) (337,446 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 99,436

The loan from the company to Mr & Mrs Stockley are unsecured, interest free and repayable upon demand.