Company registration number 09895784 (England and Wales)
MANN MCGOWAN GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MANN MCGOWAN GROUP LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
MANN MCGOWAN GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
30 November 2023
(unaudited)
Notes
£
£
£
£
Fixed assets
Investments
3
367,765
367,765
Current assets
Debtors
5
44,152
44,152
Creditors: amounts falling due within one year
6
(6,240)
(2,360)
Net current assets
37,912
41,792
Net assets
405,677
409,557
Capital and reserves
Called up share capital
7
354,000
354,000
Capital redemption reserve
(30,000)
(30,000)
Profit and loss reserves
81,677
85,557
Total equity
405,677
409,557
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Mr M Buxton
Director
Company Registration No. 09895784
MANN MCGOWAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Mann McGowan Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, Millfield Lane, Haydock, Merseyside, United Kingdom, WA11 9GA.
1.1
Reporting period
The financial statements are presented for the period from 1 December 2023 to 31 December 2024. The prior period financial statements were prepared for the year from 1 January 2023 to 30 November 2023. As a result the comparative amounts presented in the financial statements, including the related notes, are not entirely comparable.
The accounting period was changed due to the company being purchased in December 2023.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
MANN MCGOWAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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. Amounts 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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
MANN MCGOWAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
2
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
367,765
367,765
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Mann McGowan Limited
International House, Millfield Lane, Haydock, Merseyside, United Kingdom, WA11 9GA
Ordinary
100.00
Mann McGowan Intumescents Limited
International House, Millfield Lane, Haydock, Merseyside, United Kingdom, WA11 9GA
Ordinary
100.00
Post year end, Mann McGowan Intumescents Limited dissolved.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
44,152
44,152
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
100
100
Other creditors
6,140
2,260
6,240
2,360
MANN MCGOWAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
354,000
90,000
354,000
90,000
Ordinary capped of £1 each
0
264,000
264,000
354,000
354,000
354,000
354,000
On the 12th December 2023, 264,000 ordinary capped shares were redesignated to ordinary shares.
8
Related party transactions
2024
2023
Amounts due to related parties
£
£
Entities under common control
100
100
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Entities under common control
44,152
44,152
9
Parent company
On 4 December 2023, Mann McGowan Group Limited was acquired by Pluto Bidco Limited.
The smallest group of undertakings for which consolidated financial statements have been drawn up is that headed by svt Holding Gmbh. Copies of the consolidated financial statements of the group can be obtained from the registered address of svt Holding Gmbh, Glusinger Str. 86 21217, Seevetal, Niedersachsen Germany.
The directors consider the ultimate parent undertaking and controlling party of the company to be Apheon svt LTVF SCSp, a company registered in Luxembourg.
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Andrew Reddington
Statutory Auditor:
Azets Audit Services