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Registered number: 09635885
Mylson Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Mylson Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Mylson Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 09635885

| 31 December 2024 | 31 December 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 81,729 |  | 166,139
|  |  | 81,729 |  | 166,139
CURRENT ASSETS
Stocks | 5 | 1,405,986 |  | 1,434,607 |
Debtors | 6 | 316,625 |  | 265,966 |
Cash at bank and in hand |  | 88,528 |  | 60,226 |
|  | 1,811,139 |  | 1,760,799 |
Creditors: Amounts Falling Due Within One Year | 7 | (1,460,471 ) |  | (1,302,700 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 350,668 |  | 458,099
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 432,397 |  | 624,238
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (66,667 ) |  | (256,934 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (15,529 ) |  | (16,339 )
NET ASSETS |  |  | 350,201 |  | 350,965
CAPITAL AND RESERVES
Called up share capital | 10 |  | 1 |  | 1
Profit and Loss Account |  |  | 350,200 |  | 350,964
SHAREHOLDERS' FUNDS |  |  | 350,201 |  | 350,965

Page 1
Page 2
Mylson Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Alex Wood Director
2 July 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Mylson Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Mylson Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09635885 . The registered office is C/O Sempar, Office 2.026, Innovation Centre 7, Keele University, Keele, Staffordshire, ST5 5NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 15% on reducing balance
Motor Vehicles | 25% on reducing balance, 10% and 12% straight line
Fixtures & Fittings | 15% on reducing balance
Computer Equipment | 20% on reducing balance

2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Mylson Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Cost
As at 1 January 2024 | 32,605 | 182,692 | 3,561 | 8,356 | 227,214
Additions | - | - | 538 | - | 538
Disposals | - | (105,000 ) | - | - | (105,000 )
As at 31 December 2024 | 32,605 | 77,692 | 4,099 | 8,356 | 122,752
Depreciation
As at 1 January 2024 | 10,709 | 45,050 | 1,223 | 4,093 | 61,075
Provided during the period | 3,284 | 6,518 | 432 | 853 | 11,087
Disposals | - | (31,139 ) | - | - | (31,139 )
As at 31 December 2024 | 13,993 | 20,429 | 1,655 | 4,946 | 41,023
Net Book Value
As at 31 December 2024 | 18,612 | 57,263 | 2,444 | 3,410 | 81,729
As at 1 January 2024 | 21,896 | 137,642 | 2,338 | 4,263 | 166,139

Page 4
Page 5
Mylson Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Stocks

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Finished goods | 1,405,986 |  | 1,434,607

6. Debtors

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 169,741 |  | 113,685
Prepayments and accrued income | 34,480 |  | 33,623
Other debtors | 19,500 |  | 10,000
Director's loan account | 134 |  | -
Amounts owed by other participating interests | 92,770 |  | 108,658
| 316,625 |  | 265,966

7. Creditors: Amounts Falling Due Within One Year

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 65,881 |  | 23,157
Trade creditors | 343,948 |  | 700,338
Bank loans and overdrafts | 89,859 |  | 65,072
Corporation tax | 20,112 |  | 6,821
Other taxes and social security | 20,405 |  | 9,301
VAT | 43,758 |  | 26,836
Net wages | - |  | 20,898
Other creditors | 768,402 |  | 351,838
Accruals and deferred income | 107,536 |  | 97,914
Director's loan account | - |  | 277
Amounts owed to other participating interests | 570 |  | 248
| 1,460,471 |  | 1,302,700

8. Creditors: Amounts Falling Due After More Than One Year

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | - |  | 140,267
Bank loans | 66,667 |  | 116,667
| 66,667 |  | 256,934

Page 5
Page 6
Mylson Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
9. Secured Creditors
Of the creditors the following amounts are secured.

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 65,881 |  | 163,424
Other Creditors | 321,903 |  | 246,660

10. Share Capital

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1 |  | 1

11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Not later than one year | 234,472 |  | 335,006
| 234,472 |  | 335,006

12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: £134 (2023: £Nil)
The above loan is unsecured, interest free and repayable on demand.
Aggregate dividends paid to directors during the year were £74,000 (2023: £136,000)
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