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REGISTERED NUMBER: 03683351 (England and Wales)















MOULTON BULB IMPORTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






MOULTON BULB IMPORTS LIMITED (REGISTERED NUMBER: 03683351)






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 to 6


MOULTON BULB IMPORTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: R H Oldershaw Snr
D J Grimwood
P A Grierson





SECRETARY: R H Oldershaw Snr





REGISTERED OFFICE: Long Lane
Moulton
Spalding
Lincolnshire
PE12 6PP





REGISTERED NUMBER: 03683351 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

MOULTON BULB IMPORTS LIMITED (REGISTERED NUMBER: 03683351)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 85,044 65,182

CURRENT ASSETS
Stocks 5 2,517 38,735
Debtors 6 817,238 1,649,237
Cash at bank and in hand 695,004 385,587
1,514,759 2,073,559
CREDITORS
Amounts falling due within one year 7 592,970 1,194,885
NET CURRENT ASSETS 921,789 878,674
TOTAL ASSETS LESS CURRENT LIABILITIES 1,006,833 943,856

CREDITORS
Amounts falling due after more than one year 8 22,759 8,623
NET ASSETS 984,074 935,233

CAPITAL AND RESERVES
Called up share capital 11 51,000 51,000
Retained earnings 933,074 884,233
SHAREHOLDERS' FUNDS 984,074 935,233

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 the Board of Directors and authorised for issue on 17 June 2025 and were signed on its behalf by:





D J Grimwood - Director


MOULTON BULB IMPORTS LIMITED (REGISTERED NUMBER: 03683351)

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

1. STATUTORY INFORMATION

Moulton Bulb Imports Limited is a private company, limited by shares, registered in England. 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. 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.

Related party exemption
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 the parent company.

Turnover
Turnover is the total amount receivable by the company for goods supplied and services provided, excluding VAT. Revenue from the sale of goods and services is recognised when significant risks and benefits of ownership of the product have transferred to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

MOULTON BULB IMPORTS LIMITED (REGISTERED NUMBER: 03683351)

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

2. 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023 57,050 91,855 148,905
Additions - 62,270 62,270
Disposals - (51,000 ) (51,000 )
At 30 September 2024 57,050 103,125 160,175
DEPRECIATION
At 1 October 2023 50,744 32,979 83,723
Charge for year 1,576 20,487 22,063
Eliminated on disposal - (30,655 ) (30,655 )
At 30 September 2024 52,320 22,811 75,131
NET BOOK VALUE
At 30 September 2024 4,730 80,314 85,044
At 30 September 2023 6,306 58,876 65,182

5. STOCKS
2024 2023
£    £   
Raw materials 2,517 38,735

MOULTON BULB IMPORTS LIMITED (REGISTERED NUMBER: 03683351)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 801,909 1,550,202
Amounts owed by group undertakings - 11,128
Other debtors 3,614 78,787
VAT 3,776 -
Prepayments and accrued income 7,939 9,120
817,238 1,649,237

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 18,177 9,318
Trade creditors 452,778 1,021,034
Amounts owed to group undertakings 8,853 -
Taxation 21,489 15,136
Other taxes and social security 11,890 22,768
Other creditors 39,977 28,394
Accruals and deferred income 39,806 98,235
592,970 1,194,885

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 22,759 8,623

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 18,177 9,318
Between one and five years 22,759 8,623
40,936 17,941

Non-cancellable operating leases
2024 2023
£    £   
Within one year 19,500 19,500
Between one and five years 6,500 26,000
26,000 45,500

MOULTON BULB IMPORTS LIMITED (REGISTERED NUMBER: 03683351)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 40,936 17,941

All current and future assets of the company are subject to a fixed and floating charge in favour of Natwest Bank plc dated 1 April 1999.

The finance lease and hire purchase liabilities are secured on the relevant assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
34,000 Ordinary 'A' £1 34,000 34,000
17,000 Ordinary 'B' £1 17,000 17,000
51,000 51,000

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

The Report of the Auditors was unqualified.

Sally-Anne Hurn FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

13. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had outstanding currency option deals of a sterling equivalent to a maximum of £678,406 (2023: £1,099,877). This is in respect of forward contracts in euros purchased as a hedge against fluctuations in currency.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made loans to a director which have not fully been repaid by the year end. No interest was charged on this loan. The balance outstanding at the year end was £3,604 (2023 - £20,804).

15. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Moulton Bulb Company Limited. Group accounts are prepared at this level and can be obtained from the registered office.