REGISTERED NUMBER: 07942009 (England and Wales)

MULTIMESH (UK) LTD

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Kevin McCabe

REGISTERED OFFICE:

Tyrone House Haydock Lane

Haydock Industrial Estate, Haydock

St. Helens

Merseyside

WA11 9UY

REGISTERED NUMBER:

07942009 (England and Wales)

ACCOUNTANTS:

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Property, plant and equipment

5

200,228

231,545

CURRENT ASSETS

Inventories

6

275,911

279,543

Receivables

7

1,441,656

1,388,797

Cash at bank and in hand

1,058,524

813,957

2,776,091

2,482,297

PAYABLES

Amounts falling due within one year

8

(484,465

)

(448,438

)

NET CURRENT ASSETS

2,291,626

2,033,859

TOTAL ASSETS LESS CURRENT LIABILITIES

2,491,854

2,265,404

PROVISIONS FOR LIABILITIES

9

(21,117

)

(27,205

)

NET ASSETS

2,470,737

2,238,199

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

2,470,736

2,238,198

SHAREHOLDERS' FUNDS

2,470,737

2,238,199

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 September 2025 and were signed by:

Kevin McCabe - Director

1.	STATUTORY INFORMATION

Multimesh (UK) 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.	STATEMENT OF COMPLIANCE

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 House Act 2006. The financial statements have been prepared on a going concern basis. The accounting policies outlined below have been applied consistently throughout the year.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis under the historical cost convention.

Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

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 significant risks and rewards of ownership have been transferred to the buyer;

- the company retains no continuing involvement or control over the goods;

- the amount of revenue can be measured reliably;

- it is probable that future economic benefits will flow to the company; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Property, plant and equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and Machinery

10%

Straight line

Fixtures and Fittings

15%

Reducing balance

Motor Vehicles

25%

Reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Financial instruments

The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

Share capital

Share capital is recognised as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown as a deduction, net of tax, from the proceeds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 38 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

207,881

11,238

108,750

327,869

Additions

13,000

-

-

13,000

At 31 December 2024

220,881

11,238

108,750

340,869

DEPRECIATION

At 1 January 2024

72,414

2,928

20,982

96,324

Charge for year

21,128

1,247

21,942

44,317

At 31 December 2024

93,542

4,175

42,924

140,641

NET BOOK VALUE

At 31 December 2024

127,339

7,063

65,826

200,228

At 31 December 2023

135,467

8,310

87,768

231,545

6.	INVENTORIES

2024

2023

£

£

Raw materials

275,911

279,543

7.	RECEIVABLES

2024

2023

£

£

Trade receivables

462,520

360,876

Amounts owed by related undertakings

892,468

940,092

Other receivables

360

360

Corporation tax

61,819

-

Prepayments

24,489

87,469

1,441,656

1,388,797

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

8.	PAYABLES LESS THAN ONE YEAR

2024

2023

£

£

Trade payables

145,282

135,266

Amounts owed to related undertakings

117,045

48,681

Taxation and social security

121,831

196,018

Other payables

100,307

68,473

484,465

448,438

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

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

21,117

27,205

Deferred tax

£

Balance at 1 January 2024

27,205

Credit to Income Statement during year

(6,088

)

Balance at 31 December 2024

21,117

The provision for deferred taxation is made up as follows:

2024

2023

£

£

Accelerated capital allowances

22,139

28,761

Other timing differences

(1,022

)

(1,556

)

21,117

27,205

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

11.	ULTIMATE CONTROLLING PARTY

Mr Kevin McCabe, a director is the ultimate controlling party by virtue of his controlling interest in the company's equity capital.