Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31true23true192024-01-01falseThe principal activity of the company during the year was the sale and rental of specialist vehicles.false NI619450 2024-01-01 2024-12-31 NI619450 2023-01-01 2023-12-31 NI619450 2024-12-31 NI619450 2023-12-31 NI619450 c:Director2 2024-01-01 2024-12-31 NI619450 d:Buildings 2024-01-01 2024-12-31 NI619450 d:Buildings 2024-12-31 NI619450 d:Buildings 2023-12-31 NI619450 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI619450 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 NI619450 d:Buildings d:LongLeaseholdAssets 2024-12-31 NI619450 d:Buildings d:LongLeaseholdAssets 2023-12-31 NI619450 d:PlantMachinery 2024-01-01 2024-12-31 NI619450 d:PlantMachinery 2024-12-31 NI619450 d:PlantMachinery 2023-12-31 NI619450 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI619450 d:MotorVehicles 2024-01-01 2024-12-31 NI619450 d:MotorVehicles 2024-12-31 NI619450 d:MotorVehicles 2023-12-31 NI619450 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI619450 d:FurnitureFittings 2024-01-01 2024-12-31 NI619450 d:FurnitureFittings 2024-12-31 NI619450 d:FurnitureFittings 2023-12-31 NI619450 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI619450 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 NI619450 d:OtherPropertyPlantEquipment 2024-12-31 NI619450 d:OtherPropertyPlantEquipment 2023-12-31 NI619450 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI619450 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI619450 d:Goodwill 2024-12-31 NI619450 d:Goodwill 2023-12-31 NI619450 d:CurrentFinancialInstruments 2024-12-31 NI619450 d:CurrentFinancialInstruments 2023-12-31 NI619450 d:Non-currentFinancialInstruments 2024-12-31 NI619450 d:Non-currentFinancialInstruments 2023-12-31 NI619450 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 NI619450 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI619450 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 NI619450 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 NI619450 d:ShareCapital 2024-12-31 NI619450 d:ShareCapital 2023-12-31 NI619450 d:RetainedEarningsAccumulatedLosses 2024-12-31 NI619450 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI619450 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-01-01 2024-12-31 NI619450 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-12-31 NI619450 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 NI619450 c:FRS102 2024-01-01 2024-12-31 NI619450 c:Audited 2024-01-01 2024-12-31 NI619450 c:FullAccounts 2024-01-01 2024-12-31 NI619450 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI619450 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI619450 2 2024-01-01 2024-12-31 NI619450 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: NI619450










TERBERG MPM IRELAND LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TERBERG MPM IRELAND LIMITED
REGISTERED NUMBER: NI619450

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
7,619,232
5,103,222

  
7,619,232
5,103,222

Current assets
  

Stocks
  
1,297,219
821,820

Debtors: amounts falling due within one year
 6 
1,157,975
861,964

Cash at bank and in hand
 7 
570,886
211,847

  
3,026,080
1,895,631

Creditors: amounts falling due within one year
 8 
(3,428,967)
(1,823,238)

Net current (liabilities)/assets
  
 
 
(402,887)
 
 
72,393

Total assets less current liabilities
  
7,216,345
5,175,615

Creditors: amounts falling due after more than one year
 9 
(3,502,219)
(2,358,861)

Provisions for liabilities
  

Deferred tax
  
(275,200)
(348,718)

Other provisions
 10 
(18,557)
(36,601)

  
 
 
(293,757)
 
 
(385,319)

Net assets
  
3,420,369
2,431,435


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,420,269
2,431,335

  
3,420,369
2,431,435

Page 1

 
TERBERG MPM IRELAND LIMITED
REGISTERED NUMBER: NI619450

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 June 2025.




Mr Mark McCluskey
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The principal activity of the company during the year was the sale and rental of specialist vehicles.

2.Accounting policies

  
2.1

Company information

Terberg MPM Ireland Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 3D Ballygowan Road, Hillsborough, Co. Down, Northern Ireland, BT26 6HX.

 
2.2

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.3

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: the Company as lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the financial statements as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Buildings
-
10%
Straight line
Plant and machinery
-
20%
Straight line
Motor vehicles
-
25%
Straight line
Fixtures and fittings
-
33%
Straight line
Rental Fleet
-
15%
Straight line with 10% residual value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 19).


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
75,000



At 31 December 2024

75,000



Amortisation


At 1 January 2024
75,000



At 31 December 2024

75,000



Net book value



At 31 December 2024
-



At 31 December 2023
-



Page 7

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Freehold property
Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Hire fleet
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 January 2024
593,734
76,053
124,996
321,513
44,233
5,672,296
6,832,825


Additions
-
555,750
10,650
131,785
3,745
3,061,823
3,763,753


Disposals
-
-
(10,800)
(46,899)
-
(285,504)
(343,203)



At 31 December 2024

593,734
631,803
124,846
406,399
47,978
8,448,615
10,253,375



Depreciation


At 1 January 2024
-
40,583
84,738
159,917
38,743
1,405,622
1,729,603


Charge for the year on owned assets
-
5,626
15,339
81,800
4,241
974,087
1,081,093


Disposals
-
-
(9,717)
(40,232)
-
(126,604)
(176,553)



At 31 December 2024

-
46,209
90,360
201,485
42,984
2,253,105
2,634,143



Net book value



At 31 December 2024
593,734
585,594
34,486
204,914
4,994
6,195,510
7,619,232



At 31 December 2023
593,734
35,470
40,258
161,596
5,490
4,266,674
5,103,222

Page 8

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
886,265
677,494

Amounts owed by group undertakings
108,463
55,360

Other debtors
33,727
26,205

Prepayments and accrued income
24,161
53,259

Tax recoverable
105,359
49,646

1,157,975
861,964


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
570,886
211,847

570,886
211,847



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
196,127
203,414

Amounts owed to group undertakings
2,568,771
1,196,434

Other taxation and social security
79,696
60,160

Obligations under finance lease and hire purchase contracts
26,167
12,626

Other creditors
62,830
59,776

Accruals and deferred income
495,376
290,828

3,428,967
1,823,238


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 9

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
26,101

Amounts owed to group undertakings
3,502,219
2,332,760

3,502,219
2,358,861



10.


Provisions


Warranty Provision

£





At 1 January 2024
36,601


Charged to profit or loss
(18,044)



At 31 December 2024
18,557


11.


Contingent liabilities

During the year the company received funding from Invest NI. There exists a contingent liability to repay all of the financial assistance received under this agreement if a default occurs under the terms and conditions. There has not been nor is there expected to be a breach of the terms and conditions.


12.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
3,098,000
-

3,098,000
-


13.


Related party transactions

During the year, the parent company advanced £2,541,796 to Terberg MPM Ireland Limited. This loan is subject to varying interest rates from 2% to 5.5%. 

Page 10

 
TERBERG MPM IRELAND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Controlling party

The Company's ultimate controlling party is Royal Terberg Group B.V. by virtue of majority shareholding.
The smallest group for which consolidated accounts including Terberg MPM Ireland Ltd are prepared is Royal Terberg Group B.V. These consolidation financial statements are available from its registered office, Newtownstraat 2, 3401 ja, IJsseltein, Netherlands.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 11 June 2025 by Teresa Campbell (Senior Statutory Auditor) on behalf of AAB Group Accountants Limited.


Page 11