Company registration number 04192611 (England and Wales)
MOULDSHOP LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
MOULDSHOP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
MOULDSHOP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 May 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
3,954
-
0
Tangible assets
5
13,341
13,166
Investments
6
4,869
4,869
22,164
18,035
Current assets
Stocks
7
599,170
573,634
Debtors
8
879,410
924,487
Cash at bank and in hand
225,584
527,285
1,704,164
2,025,406
Creditors: amounts falling due within one year
9
(733,068)
(1,103,977)
Net current assets
971,096
921,429
Total assets less current liabilities
993,260
939,464
Provisions for liabilities
(3,138)
(3,058)
Net assets
990,122
936,406
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
990,022
936,306
Total equity
990,122
936,406

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
Mr MW Guyett
Director
Company registration number 04192611 (England and Wales)
MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Mouldshop Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 1 & 2, Stephenson Close, Drayton Fields Industrial Estate, Daventry, Northants, UK, NN11 8RF.

1.1
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.

1.2
Reporting period

The company reporting period was shortened from 31/05/2025 to 31/12/2024 to align it with the parent company reporting dates.

 

The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
Intangible fixed assets other than goodwill

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.

 

SDLT- Lease
33.3% on cost
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Equipment
33.3% on cost
Software
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
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 balance sheet 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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
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.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2024
Number
Number
Total
15
15
MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
4
Intangible fixed assets
Development costs
SDLT- Lease
Total
£
£
£
Cost
At 1 June 2024
17,000
-
0
17,000
Additions - internally developed
-
0
4,745
4,745
At 31 December 2024
17,000
4,745
21,745
Amortisation and impairment
At 1 June 2024
17,000
-
0
17,000
Amortisation charged for the Period
-
0
791
791
At 31 December 2024
17,000
791
17,791
Carrying amount
At 31 December 2024
-
0
3,954
3,954
At 31 May 2024
-
0
-
0
-
0
5
Tangible fixed assets
Office Equipment
Software
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2024
92,648
10,606
11,631
114,885
Additions
3,389
-
0
-
0
3,389
At 31 December 2024
96,037
10,606
11,631
118,274
Depreciation and impairment
At 1 June 2024
85,503
5,076
11,140
101,719
Depreciation charged in the Period
2,335
807
72
3,214
At 31 December 2024
87,838
5,883
11,212
104,933
Carrying amount
At 31 December 2024
8,199
4,723
419
13,341
At 31 May 2024
7,145
5,530
491
13,166
6
Fixed asset investments
2024
2024
£
£
Shares in group undertakings and participating interests
4,869
4,869
MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
7
Stocks
2024
2024
£
£
Stocks
599,170
573,634

During the year, the company recognised a stock provision of £30,000 (2024 - £nil) relating to obsolete and slow-moving stock. The provision was recorded as an expense within cost of sales.

8
Debtors
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
543,933
586,925
Other debtors
-
0
199,000
Prepayments and accrued income
37,063
138,562
580,996
924,487
2024
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
298,414
-
0
Total debtors
879,410
924,487
9
Creditors: amounts falling due within one year
2024
2024
£
£
Trade creditors
403,284
511,757
Corporation tax
155,199
124,821
Other taxation and social security
148,659
346,720
Other creditors
8,707
10,208
Accruals and deferred income
17,219
110,471
733,068
1,103,977
MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
10
Called up share capital
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
0
55
-
0
55
Ordinary B of £1 each
0
25
-
0
25
Ordinary C of £1 each
0
20
-
0
20
Ordinary of £1 each
100
0
100
-
0
100
100
100
100

The company has one class of ordinary shares which carry equal voting rights, equal rights to dividends and equal rights to the distribution of assets on winding up.

11
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 is qualified and includes the following:

Basis for qualified opinion

We were not appointed as auditors of the company until after 31 May 2024 and thus did not observe the counting of physical inventories at the year end. We were unable to satisfy ourselves by alternative means concerning inventory quantities held at 31 May 2024, which are included in the balance sheet at £573,634 by using other audit procedures. Consequently, we unable to determine whether any adjustment to this amount was necessary. On the basis that the opening stock value at 1 June 2024 impacts the current accounting period, we are unable to determine whether any adjustment to the profit for the period ended 31 December 2024 was necessary.

 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Senior Statutory Auditor:
Callum Veasey ACA
Statutory Auditor:
Cottons Accountants LLP
Date of audit report:
26 June 2025
MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 9 -
12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2024
£
£
244,561
53,796
13
Related party transactions
Transactions with related parties

During the Period the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2024
2024
2024
2024
£
£
£
£
Entities with control, joint control or significant influence over the company
11,141
-
0
5,167
-
0
Rent
2024
2024
£
£
Other related parties
63,826
-
2024
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
788
-
Other related parties
20,523
-

In 2024, the company had a loan receivable with DB Next. Interest recognised in the accounts for the period amounted to £1,329. The balance due to Mouldshop Limited as at 31st December 2024 was £298,414.

2024
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
7,512
-
MOULDSHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 10 -
14
Ultimate Controlling Party

The immediate parent company is MSNext.

 

The ultimate parent company is Groupe Baelen of 10 Rue Cimarosa, 75016 Paris France.

15
Auditor's liability limitation agreement

Upon appointment of Cottons Accountants LLP as auditors, the company entered into a limitation liability agreement with the auditors and this was approved by resolution on 19 March 2025. Liability is limited to the lesser of 20 times the audit fee or £180,000. In accordance with section 537 of CA06, the effect of the liability limitation agreement is to limit the auditor's liability to less than such amount as is fair and reasonable, as determined by that section, the agreement shall have effect as if it limited the liability to such amount as is fair and reasonable, as so determined.

 

The agreement limits the liability owed to the company by the auditors in respect of any negligence, default or breach of duty, or breach of trust, occurring in the course of the audit of the accounts for the period ending 31 December 2024.

 

The agreement does not limit liability for any instance of fraud or dishonesty on behalf of the auditor or any other liability that cannot be excluded or restricted by applicable laws or regulations.

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