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Registered number: 01845418

MHS Radiators Limited

UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Prepared By:

Lever Bros & Co

Chartered Accountants

First Floor, 690 Great West Road

Osterley Village

Isleworth

TW7 4PU

MHS Radiators Limited

ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DIRECTORS

I P Bradley

K P Mainstone

A K Bradley

SECRETARY

M J Smith

REGISTERED OFFICE

Unit 4 Genesis

Endeavour Drive

Basildon

Essex

SS14 3WF

COMPANY DETAILS

Private company limited by shares registered in EW - England and Wales, registered number 01845418

ACCOUNTANTS

Lever Bros & Co

Chartered Accountants

First Floor, 690 Great West Road

Osterley Village

Isleworth

TW7 4PU

MHS Radiators Limited

ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2024
CONTENTS
		Page
Directors' Report		-
Accountants' Report		-
Statement Of Comprehensive Income		-
Balance Sheet		3
Notes To The Accounts		4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account		-
Profit And Loss Account Summaries		-

MHS Radiators Limited

BALANCE SHEET AT 31 December 2024
						2024				2023
		Notes				£				£
FIXED ASSETS
Tangible assets		3				333,355				274,328
CURRENT ASSETS
Stock		4		1,101,765				1,606,581
Debtors		5		1,716,172				1,704,211
Cash at bank and in hand				264,019				621,027
				3,081,956				3,931,819
CREDITORS: Amounts falling due within one year		6		1,147,966				1,916,852
NET CURRENT ASSETS						1,933,990				2,014,967
TOTAL ASSETS LESS CURRENT LIABILITIES						2,267,345				2,289,295
CREDITORS: Amounts falling due after more than one year		7				497,513				563,885
NET ASSETS						1,769,832				1,725,410
CAPITAL AND RESERVES
Called up share capital		8				1,000				1,000
Profit and loss account						1,768,832				1,724,410
SHAREHOLDERS' FUNDS						1,769,832				1,725,410
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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 15 September 2025 and signed on their behalf by
.............................
K P Mainstone
Director

MHS Radiators Limited

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

1a. Basis Of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .

1b. Going Concern

These financial statements have been prepared on the going concern basis.

1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Long Leasehold Properties		reducing balance 10%
Plant and Machinery		reducing balance 25%
Commercial Vehicles		reducing balance 25%
Fixtures and Fittings		reducing balance 15 to 25%

1d. Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

1e. Taxation

Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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.

MHS Radiators Limited

1f. Pension Costs

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

1g. Turnover

Turnover represents the value of goods and services supplied by the company, net of value added tax and trade discounts and is recognised on delivery of goods or when services are rendered.

1h. Government Grants

Government grants are recognised in profit and loss in the year in which they are received.

1i. Leasing Commitments

Assets obtained under hire purchase contracts and 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 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 on a straight line basis.

1j. Leases

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

2. EMPLOYEES
				2024		2023
				No.		No.
Average number of employees				21		24

MHS Radiators Limited

3. TANGIBLE FIXED ASSETS
		Long Leasehold		Plant and		Commercial		Fixtures
		Properties		Machinery		Vehicles		and Fittings		Total
		£		£		£		£		£
Cost
At 1 January 2024		200,899		140,204		-		148,551		489,654
Additions		3,206		61,918		37,544		14,132		116,800
Disposals		-		-		-		(35,238)		(35,238)
At 31 December 2024		204,105		202,122		37,544		127,445		571,216
Depreciation
At 1 January 2024		51,538		41,159		-		122,629		215,326
Disposals		-		-		-		(34,942)		(34,942)
For the year		18,842		18,392		6,257		13,986		57,477
At 31 December 2024		70,380		59,551		6,257		101,673		237,861
Net Book Amounts
At 31 December 2024		133,725		142,571		31,287		25,772		333,355
At 31 December 2023		149,361		99,045		-		25,922		274,328

4. STOCK				2024		2023
				£		£
Stock comprises:
Stock				1,101,765		1,606,581
				1,101,765		1,606,581

5. DEBTORS				2024		2023
				£		£
Amounts falling due within one year
Trade debtors				259,592		533,982
Other debtors				310,939		339,148
Amounts due from group companies				938,010		412,524
Prepayments				207,631		186,110
				1,716,172		1,471,764
Amounts falling due over more than one year
Long term debtor				-		232,447
				-		232,447
				1,716,172		1,704,211
Amounts owed by group undertakings are interest free and repayable on demand.

MHS Radiators Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2024		2023
				£		£
Taxation and social security				112,566		176,046
Bank Loan				15,661		25,780
Hire purchase				10,500		2,009
Trade creditors				871,519		1,402,734
Other creditors				6,281		132,390
Accruals				131,439		155,456
Amounts due to group companies				-		22,437
				1,147,966		1,916,852
Amounts owed to group undertakings are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
				2024		2023
				£		£
Hire purchase >1yr				81,896		63,885
Other creditors > 1yr				415,617		500,000
				497,513		563,885
Net obligations under finance leases and hire purchase contracts

8. SHARE CAPITAL				2024		2023
				£		£
Allotted, issued and fully paid:
1,000 Ordinary shares of £1.00 each				1,000		1,000
				1,000		1,000

9. RELATED PARTY TRANSACTIONS

The Company has taken exemption under section 33.1A of the Financial Reporting Standard 102 from disclosing transactions with group companies, on the grounds that each company party to the transactions is wholly owned within the group.

MHS Radiators Limited

10. CONTROLLING PARTY

The company is equally controlled by the directors I P Bradley and K P Mainstone by virtue of their shareholding within the ultimate parent company, MHS Radiators (Holdings) Limited.

ULTIMATE PARENT COMPANY

The parent company is The Modular Heating Group Limited, a company incorporated in England and Wales. The ultimate parent company is MHS Radiators (Holdings) Limited, a company incorporated in England and Wales, by virtue of its 100% shareholding within The Modular Heating Group Limited. The registered office address for both of these companies is Unit 4 Genesis, Endeavour Drive, Basildon, Essex, SS14 3WF.