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MEADEX RUBBER MOULDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST OCTOBER 2024






MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 9

MEADEX RUBBER MOULDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: A J Monk
M A Bourne





REGISTERED OFFICE: Unit 1, Tanyard Lane
Ross-On-Wye
Herefordshire
HR9 7BH





REGISTERED NUMBER: 03854470 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 16,150 -
Tangible assets 5 55,133 81,574
71,283 81,574

CURRENT ASSETS
Stocks 411,576 357,689
Debtors 6 2,978,947 2,716,184
Cash at bank 6,326 21,488
3,396,849 3,095,361
CREDITORS
Amounts falling due within one year 7 2,013,316 1,621,066
NET CURRENT ASSETS 1,383,533 1,474,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,454,816

1,555,869

CREDITORS
Amounts falling due after more than one
year

8

(402,243

)

(428,224

)

PROVISIONS FOR LIABILITIES - (3,052 )
NET ASSETS 1,052,573 1,124,593

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,052,473 1,124,493
1,052,573 1,124,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

BALANCE SHEET - continued
31ST OCTOBER 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th July 2025 and were signed on its behalf by:





A J Monk - Director


MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024

1. STATUTORY INFORMATION

Meadex Rubber Mouldings 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents the manufacture of rubber mould products, stated net of value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 17,000
At 31st October 2024 17,000
AMORTISATION
Amortisation for year 850
At 31st October 2024 850
NET BOOK VALUE
At 31st October 2024 16,150

MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st November 2023 41,602 - 20,000
Additions - 43,000 -
Disposals - (43,000 ) -
At 31st October 2024 41,602 - 20,000
DEPRECIATION
At 1st November 2023 41,602 - 18,282
Charge for year - - 344
Eliminated on disposal - - -
At 31st October 2024 41,602 - 18,626
NET BOOK VALUE
At 31st October 2024 - - 1,374
At 31st October 2023 - - 1,718

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st November 2023 112,964 34,273 208,839
Additions - - 43,000
Disposals (39,085 ) - (82,085 )
At 31st October 2024 73,879 34,273 169,754
DEPRECIATION
At 1st November 2023 35,124 32,257 127,265
Charge for year 13,037 405 13,786
Eliminated on disposal (26,430 ) - (26,430 )
At 31st October 2024 21,731 32,662 114,621
NET BOOK VALUE
At 31st October 2024 52,148 1,611 55,133
At 31st October 2023 77,840 2,016 81,574

The net book value of tangible fixed assets includes £ 52,044 (2023 - £ 65,055 ) in respect of assets held under hire purchase contracts.

MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,023,080 843,412
Doubtful debt provision (3,848 ) (87,861 )
Prepayments and accrued income 142,651 22,358
1,161,883 777,909

Amounts falling due after more than one year:
Amounts owed by participating interests 1,817,064 1,938,275

Aggregate amounts 2,978,947 2,716,184

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 283,692 281,447
Hire purchase contracts (see note 9) 13,160 12,843
Trade creditors 561,413 407,123
Corporation tax 121,627 199,773
Social security and other taxes 46,347 17,016
VAT 241,789 295,888
Other creditors 10,322 5,061
Invoice discount facility 654,422 323,465
Accruals and deferred income 80,544 78,450
2,013,316 1,621,066

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 378,427 391,249
Hire purchase contracts (see note 9) 23,816 36,975
402,243 428,224

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 13,160 12,843
Between one and five years 23,816 36,975
36,976 49,818

MEADEX RUBBER MOULDINGS LIMITED (REGISTERED NUMBER: 03854470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 141,050 126,000
Between one and five years 305,988 388,500
447,038 514,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 662,119 672,696
Invoice discount facility 654,422 323,465
1,316,541 996,161

The invoice finance facility is secured by a fixed charge over the trade debts of the company.

The bank loans are secured by a fixed charge over the company's assets.

11. ULTIMATE CONTROLLING PARTY

The parent company is Meadex Holdings Limited (Company Number 14382441).

Their registered office is Elizabeth Court, Church Street, Stratford-Upon-Avon, Warwickshire, United
Kingdom, CV37 6HB.

The ultimate controlling party is Mr A J Monk.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MEADEX RUBBER MOULDINGS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meadex Rubber Mouldings Limited for the year ended 31st October 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Meadex Rubber Mouldings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Meadex Rubber Mouldings Limited and state those matters that we have agreed to state to the Board of Directors of Meadex Rubber Mouldings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meadex Rubber Mouldings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Meadex Rubber Mouldings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Meadex Rubber Mouldings Limited. You consider that Meadex Rubber Mouldings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Meadex Rubber Mouldings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


29th July 2025