Molfie Ltd - Accounts to registrar (filleted)

MOLFIE LTD

Unaudited Financial Statements

for the Year Ended 28 February 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountant's Report

8

DIRECTORS:

A T Reed

T L Rushworth

REGISTERED OFFICE:

4 Northwest Business Park

Servia Hill

Leeds

West Yorkshire

LS6 2QH

REGISTERED NUMBER:

07093692 (England and Wales)

ACCOUNTANT:

Botros & Co

4 Northwest Business Park

Servia Hill

Leeds

West Yorkshire

LS6 2QH

BANKERS:

Barclays Bank plc

P.O.Box 224

10 Market Street

Bradford

West Yorkshire

BD1 1NR

FIXED ASSETS

Intangible assets

4

1

Tangible assets

5

777,977

693,381

777,978

693,382

CURRENT ASSETS

Stocks

41,870

38,500

Debtors

6

161,159

149,987

Cash at bank and in hand

46,355

32,914

249,384

221,401

CREDITORS

Amounts falling due within one year

7

239,103

193,111

NET CURRENT ASSETS

10,281

28,290

TOTAL ASSETS LESS CURRENT
LIABILITIES

788,259

721,672

CREDITORS

Amounts falling due after more than one
year

8

(280,618

)

(214,664

)

PROVISIONS FOR LIABILITIES

(6,649

)

(6,649

)

NET ASSETS

500,992

500,359

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

10

500,892

500,259

SHAREHOLDERS' FUNDS

500,992

500,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

T L Rushworth - Director

1.	STATUTORY INFORMATION

Molfie Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twelve years.

Intangible assets

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

30,000

AMORTISATION

At 1 March 2024

and 28 February 2025

29,999

NET BOOK VALUE

At 28 February 2025

1

At 29 February 2024

1

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

COST

At 1 March 2024

3,017

110,000

1,025,078

Additions

-

386,893

Disposals

-

(256,000

)

At 28 February 2025

3,017

110,000

1,155,971

DEPRECIATION

At 1 March 2024

679

-

448,926

Charge for year

-

116,713

Eliminated on disposal

-

(71,040

)

At 28 February 2025

679

-

494,599

NET BOOK VALUE

At 28 February 2025

2,338

110,000

661,372

At 29 February 2024

2,338

110,000

576,152

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 March 2024

13,881

8,174

1,160,150

Additions

-

1,367

388,260

Disposals

-

(256,000

)

At 28 February 2025

13,881

9,541

1,292,410

DEPRECIATION

At 1 March 2024

9,933

7,231

466,769

Charge for year

592

1,399

118,704

Eliminated on disposal

-

(71,040

)

At 28 February 2025

10,525

8,630

514,433

NET BOOK VALUE

At 28 February 2025

3,356

911

777,977

At 29 February 2024

3,948

943

693,381

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

123,544

71,287

Other debtors

6,700

Prepayments

30,915

72,000

161,159

149,987

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Bank loans and overdrafts

2,083

12,500

Hire purchase contracts

131,792

108,923

Trade creditors

73,905

15,487

Tax

-

3,582

Social security and other taxes

-

1,017

Pension payable

175

194

VAT

5,668

14,157

Directors' loan accounts

-

3,111

Accrued expenses

25,480

34,140

239,103

193,111

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

Bank loans - 2-5 years

-

2,083

Hire purchase contracts

256,618

188,581

Loan account

24,000

280,618

214,664

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

100

Ordinary

£1

100

10.

RESERVES

Retained

earnings

£

At 1 March 2024

500,259

Profit for the year

18,633

Dividends

(18,000

)

At 28 February 2025

500,892

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Molfie Ltd for the year ended 28 February 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Molfie Ltd, as a body, in accordance with the terms of my engagement letter dated 2 December 2009. My work has been undertaken solely to prepare for your approval the financial statements of Molfie Ltd and state those matters that I have agreed to state to the Board of Directors of Molfie Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Molfie Ltd and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Molfie Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Molfie Ltd. You consider that Molfie Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Molfie Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Botros & Co

4 Northwest Business Park

Servia Hill

Leeds

West Yorkshire

LS6 2QH

9 September 2025