MA24 Limited

	Page
Company Information	1
Directors' Report	2—3
Accountants' Report	4
Profit and Loss Account	5
Balance Sheet	6—7
Notes to the Financial Statements	8—11

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MA24 Limited

Company No. 07159714

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal Activity

The company's principal activity continues to be that of providing project management, consultancy and engineering services.

Review of the Business

MA24 maintains a solid financial performance, delivering against its objectives and with the establishment of the regional business in MA24 Europe, trading continues positively with profits posted comparable across the group, with last year. With secured pipeline heading into 2024 and focus on delivering EPCM opportunities, profits maintain themselves irrespective if our throughput is services or construction orientated. Our priority and ability is to support our customers preferences.

Further information on the company and its current news can be found on our website: www.ma24.co.uk.

Directors

The directors who held office during the year were as follows:

Mr Paul Fitzpatrick

Mr Andrew Mair

Mr Peter McCormack

Mr Bryan Mullen

Mr James Pike

Mr Stuart Williams

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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MA24 Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

On behalf of the board

Mr Andrew Mair Director	Mr Stuart Williams Director
09/09/2025

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MA24 Limited

Accountants' Report

For The Year Ended 31 December 2024

Accountants' Report

Report to the directors on the preparation of the unaudited statutory accounts of MA24 Limited for the year ended 31 December 2024

To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MA24 Limited which comprise the Profit and Loss Account, the Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of MA24 Limited , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of MA24 Limited and state those matters that we have agreed to state to the directors of MA24 Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MA24 Limited and its directors as a body for our work or for this report.

It is your duty to ensure that MA24 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of MA24 Limited . You consider that MA24 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 accounts of MA24 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 financial statements.

Signed

Purple Lime Accountancy Ltd

09/09/2025

Purple Lime Accountancy

Unit 5 Callow Park

Callow Hill

Brinkworth

SN15 5FD

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MA24 Limited

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER		12,035,439	1,628,734
Cost of sales		(9,021,336 )	(776,189 )

GROSS PROFIT		3,014,103	852,545

Administrative expenses		(1,587,522 )	(506,578 )

OPERATING PROFIT		1,426,581	345,967
Other interest receivable and similar income		2,382	2,713
Interest payable and similar charges		(6,443 )	-

PROFIT BEFORE TAXATION		1,422,520	348,680
Tax on Profit		(234,588 )	(35,627 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,187,932	313,053

The notes on pages 8 to 11 form part of these financial statements.

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MA24 Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		231,799		12,370

			231,799		12,370
CURRENT ASSETS
Debtors	5	2,122,053		676,644
Cash at bank and in hand		5,988,119		173,854

		8,110,172		850,498
Creditors: Amounts Falling Due Within One Year	6	(7,314,429 )		(640,815 )

NET CURRENT ASSETS (LIABILITIES)			795,743		209,683

TOTAL ASSETS LESS CURRENT LIABILITIES			1,027,542		222,053

Creditors: Amounts Falling Due After More Than One Year	7		(610,709 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(61,441 )		(3,093 )

NET ASSETS			355,392		218,960

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			355,292		218,860

SHAREHOLDERS' FUNDS			355,392		218,960

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MA24 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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Andrew Mair Director	Mr Stuart Williams Director
09/09/2025

The notes on pages 8 to 11 form part of these financial statements.

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MA24 Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

MA24 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07159714 . The registered office is 14 High Cross, Truro, TR1 2AJ.

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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

When the outcome of a contract cannot be estimated reliably, turnover is recognised only to the

extent of the expenses recognised that are recoverable.

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:

Motor Vehicles	20% Reducing Balance
Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

2.4. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from group undertakings.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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MA24 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. 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 as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8. Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 21 (2023: 15)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	-	6,303	7,774	14,077
Additions	214,924	19,080	11,750	245,754

As at 31 December 2024	214,924	25,383	19,524	259,831

Depreciation
As at 1 January 2024	-	683	1,024	1,707
Provided during the period	16,949	3,733	5,643	26,325

As at 31 December 2024	16,949	4,416	6,667	28,032

Net Book Value
As at 31 December 2024	197,975	20,967	12,857	231,799

As at 1 January 2024	-	5,620	6,750	12,370

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MA24 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,401,786	174,779
Prepayments and accrued income	4,131	-
Net wages	995	-
Directors' loan accounts	396,347	-

	1,803,259	174,779
Due after more than one year
Amounts owed by other participating interests	318,794	501,865

	2,122,053	676,644

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	2,344,265	181,915
Other loans	38,374	-
Corporation tax	176,240	30,621
Other taxes and social security	35,841	24,976
VAT	1,098,618	47,879
Net wages	-	10,452
Other creditors	17,226	125,389
Accruals and deferred income	3,602,365	219,583
Amounts owed to parent undertaking	1,500	-

	7,314,429	640,815

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

	2024	2023
	£	£
Other loans	128,484	-
Amounts owed to subsidiaries	482,225	-

	610,709	-

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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MA24 Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Paul Fitzpatrick	-	59,912	-	-	59,912
Mr Andrew Mair	-	59,912	-	-	59,912
Mr Peter McCormack	-	84,912	-	-	84,912
Mr Bryan Mullen	-	48,761	-	-	48,761
Mr James Pike	-	59,912	-	-	59,912
Mr Stuart Williams	-	82,938	-	-	82,937

The above loan is unsecured, interest free and repayable on demand.

10. Ultimate Controlling Party

The ultimate parent undertaking is MA24 Holdings Limited, a company incorporated in England and Wales. MA24 Holdings Limited has no overall ultimate controlling party.

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