Caseware UK (AP4) 2023.0.135 2023.0.135 Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Group and company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Group and company or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Group and company's financial reporting process. The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection requirements in the jurisdictions in which the Company operates and holds data, non-compliance related to employment regulation in the UK and other environment regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and local tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgments and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements. The group engagement team shared the risk assessment with the component auditors so that they could include appropriate audit procedures in response to such risks in their work. In response to these principal risks, our audit procedures included but were not limited to: enquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud; inspection of the company’s legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made; gaining an understanding of the internal controls established to mitigate risk related to fraud; discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit; identifying and testing journal entries to address the risk of inappropriate journals and management override of controls; designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing challenging assumptions and judgments made by management in their significant accounting estimates, including impairment of trade debtors, useful lives of tangible assets and goodwill, impairment of tangible assets and goodwill and impairment of investments; review of the financial statement disclosures to underlying supporting documentation and inquiries of management we requested information from component auditors on instances of non-compliance with laws or regulations that could give rise to a material misstatement of the group financial statements. The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3). The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, . The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased. Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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 Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Investments in non-derivative instruments that are equity to the issuer are measured: at fair value with changes recognised in the Consolidated statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably; at cost less impairment for all other investments.When preparing the financial statements, management undertakes a number of judgments, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following are significant management judgments in applying the accounting policies of the company that have the most significant effect on the financial statements. Judgments In the process of applying the company’s accounting policies, management has made the following judgments, apart from those involving estimations, which have the most significant effect on the amounts recognised in the financial statements: Estimates Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially different.Impairment of tangible and intangible fixed assets, including goodwill The company assesses impairment on tangible and intangible assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The factors that the company considers important which could trigger an impairment review include the following: significant under performance relative to expected historical or projected future operating results; significant changes in the manner of use of the acquired assets or the strategy for overall business; and significant negative industry or economic trends. In determining the present value of estimated future cash flows expected to be generated from the continued use of the assets, the company is required to make estimates and assumptions that can materially affect the financial statements. These assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss would be recognised whenever evidence exists that the carrying value is not recoverable. For purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows. An impairment loss is recognised and charged to profit or loss if the discounted expected future cash flows are less than the carrying amount. Fair value is estimated by discounting the expected future cash flows using a discount factor that reflects the risk-free rate of interest for a term consistent with the period of expected cash flows. The carrying value of goodwill and tangible fixed assets are disclosed at note 12 and 13 respectively.Impairment of investments Determining whether the carrying value of financial assets has been impaired requires an estimation of the value in use of the investment in subsidiaries. The carrying value of investments is disclosed at note 14. The company estimates the allowance for doubtful trade receivables based on assessment of specific accounts where the company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgment used was based on the best available facts and circumstances including but not limited to, the length of relationship. The carrying value of trade debtors is disclosed at note 16. Recoverability of debtors The company has made judgments when assessing the impairment of its debtors. Outstanding balances have been grouped on the basis of similar risk characteristics such as past-due status, and impairment has been reviewed with reference to historical loss experience updated for current conditions. The carrying value of debtors is disclosed at note 16.Interest income is recognised in profit or loss using the effective interest method. Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 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Financial Statements
Moyne Roberts Limited
For the year ended 31 December 2024





































Registered number: 02548618
 
Moyne Roberts Limited
 

Company Information


Directors
D P Cosgrove 
A J Cosgrove 




Company secretary
D P Cosgrove



Registered number
02548618



Registered office
Unit 81
Roman Way Industrial Estate

Preston

PR2 5BB




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

13-18 City Quay

Dublin 2




 
Moyne Roberts Limited
 

Contents



Page
Group strategic report
1 - 2
Directors' report
3 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 10
Consolidated statement of comprehensive income
11
Consolidated statement of financial position
12
Company statement of financial position
13
Consolidated statement of changes in equity
14
Company statement of changes in equity
15
Consolidated statement of cash flows
16
Consolidated analysis of net debt
17
Notes to the financial statements
18 - 45

 
Moyne Roberts Limited
 

Group strategic report
For the year ended 31 December 2024

Introduction
 
The directors present their strategic report of the company and the group for the year ended 31 December 2024. 

Business review
 
The directors are satisfied with the group's trading results for the year. The group continued to perform well during the year as seen in the results discussed below, despite external cost pressures, including the increase in UK National Insurance Contributions. The directors consider the group to be in a strong financial position and well situated to achieve further good results in the future.

Principal risks and uncertainties
 
As for many businesses in our sector, the business environment in which we operate is very challenging and highly competitive. The directors consider that the principal risks and uncertainties faced by the company are in the following categories.
Economic risk
The risk of increased interest rates and/or inflation having an adverse impact on served markets, adverse exchange movements, unrealistic increases in wages or infrastructural cost impacting adversely on competitiveness of the group and its principal customers. The company manage these risks by innovative product sourcing and strict control of costs.
Competition risk
The directors of the company manage competition risk through close attention to maintaining excellent customer service levels and providing innovative product offerings.
Financial risk
The company has budgetary and financial reporting procedures, supported by appropriate key performance indicators, to manage credit, liquidity and other financial risk.

Financial key performance indicators
 
The directors monitor the progress of the business based on the following KPI's:

2024
2023
£
£
Turnover
63,391,768
58,318,911
Operating profit
11,021,812
11,512,192
Gross profit margin (%)
80
78

Page 1
 
Moyne Roberts Limited
 

Group strategic report (continued)
For the year ended 31 December 2024

Directors' statement of compliance with duty to promote the success of the Group
 
The board of directors of Moyne Roberts Limited both individually and together, confirm that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, in line with Section 172 (1) (a-f) of the Companies Act 2006, in the decisions taken during the year ended 31 December 2024. The following paragraphs summarise how the directors fulfil their duties:

∙As the board of directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner and that the best interest of the company is at the forefront when making decisions.
∙We recognise that our employees are fundamental and core to our business and services provided by the company. We acknowledge the importance of keeping our employees motivated and engaged through a responsible approach to salary and benefit packages and through training. We ensure our staff are appropriately qualified and can continue to develop within the company through our performance system. We also acknowledge that the health and safety of the employees is key to our business.
∙As the board of directors, we recognize that our suppliers are fundamental to the quality of our products and ensuring that as a business we meet the high standards of conduct that we have set. We are committed to engaging with our suppliers and customers to maintain and grow our business relationships, ensuring that we receive and provide the best service possible. We endeavour to review feedback from all our stakeholders in a timely manner and consider it prior to any decision making.
∙As our products and consumer base grows so too does our risk environment, we are committed to engaging with our stakeholders to effectively identify, evaluate, manage and mitigate the risks the company faces in a timely manner. Please see the principal risks and uncertainties in our Strategic report for further details.
∙We as directors, ensure that the board remains informed and monitors compliance with the relevant Company Law and governance standards resulting in the company maintaining a reputation for high standards of business conduct.
∙The group continues to invest in its IT, the aim is to ensure the companies remain at the forefront, in the delivery of services to our customers. In addition, the group has focused integrating its IT systems to newly acquired companies, with good success. Further work is planned to streamline stock with our suppliers, with improved forecasting being of significant benefit. Our systems allows a transparent means of measuring productivity and ensures a fairer reporting system for all staff. Increased levels of internal auditing in operations has maintained our high standards of business conduct. The board and shareholders are committed to ensuring these standards are the foundations of our core values.
∙We continue to use the group as a consolidation platform and will seek additional acquisitions to strengthen this.


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



................................................
D P Cosgrove
Director

Date: 26 September 2025

Page 2
 
Moyne Roberts Limited
 
 
Directors' report
For the year ended 31 December 2024

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

Principal activity

The principal activity of the group in the year under review was that of manufacture, distribution and servicing of fire & security equipment.

Results and dividends

The profit for the year, after taxation, amounted to £8,463,142 (2023: £9,120,344).

The total dividends for the year end 31 December 2024 £6,475,126 (2023: £3,915,379).

Directors

The directors who served during the year were:

D P Cosgrove 
A J Cosgrove 

Political contributions

It is the intention of the directors to continue its present activities of the company in the coming year.

Future developments

The group has an ongoing programme of modification and improvement of its products, some of which is carried out in the UK and some via group companies located in the Republic of Ireland.

Engagement with employees

Our communication roadmap details how information is shared with employees. Weekly communication is via our online newsletter. This contains details from many sources, financial, HR and wider economic influences when relevant. All stakeholders are aware of company performance through the newsletter, individual performance is communicated with the help of dashboards. Employees are appraised annually and any changes to workloads or workflows are conducted through trials. All trials include weekly meetings to ensure processes and practices are modified to suit the work environment.

Engagement with employees

Our communication roadmap details how information is shared with employees. Weekly communication is via our 
online newsletter. This contains details from many sources, financial, HR and wider economic influences when relevant. All stakeholders are aware of company performance through the newsletter, individual performance is communicated with the help of dashboards. Employees are appraised annually and any changes to workloads or workflows are conducted through trials. All trials include weekly meetings to ensure processes and practices are modified to suit the work environment.

Disabled employees

The group gives full consideration to applications for employment from disabled persons where the candidate's particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion. Where existing employees become disabled, it is the group's policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.

Page 3
 
Moyne Roberts Limited
 

Directors' report (continued)
For the year ended 31 December 2024

Branches outside the United Kingdom

The are no branches of the company operating outside of the United Kingdom.

Greenhouse gas emissions, energy consumption and energy efficiency action

The Group has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Matters covered in the Group strategic report

As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information required to be in the directors' report by Schedule 7 of the "Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008", in the strategic report.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
∙so far as the director is aware, there is no relevant audit information of which the company and the Group's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditor is aware of that information.

Post balance sheet events

A merger by acquisition between the Apex Fire Limited and Electronic Technology (Cork) Limited has taken place and is effective from 1 January 2025. Both companies are wholly owned subsidiaries of the group.
A merger by acquisition between the Apex Fire Limited and A & A Security Systems Limited has taken place and is effective from 1 August 2025. Both companies are wholly owned subsidiaries of the group.
In June 2025, Smeba Brandbeveiliging BV, a wholly owned subsidiary of the group, acquired 100% of the share capital in Cura Groep B.V. and its subsidiaries 
In March 2025, Walker Fire Limited, a wholly owned subsidiary, purchased 100% of the share capital of Spitfire Services (Hull) Ltd and Blackwood Fire Ltd.
 
Auditor

The auditor, Grant Thornton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 4
 
Moyne Roberts Limited
 

Directors' report (continued)
For the year ended 31 December 2024

This report was approved by the board on 26 September 2025 and signed on its behalf.
 





................................................
D P Cosgrove
Director

Page 5
 
Moyne Roberts Limited
 

Directors' responsibilities statement
For the year ended 31 December 2024

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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



................................................
D P Cosgrove
Director

Date: 26 September 2025
Page 6
 
 
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Independent auditor's report to the members of Moyne Roberts Limited
 
Opinion


We have audited the financial statements of Moyne Roberts Limited (the 'parent company') and its subsidiaries (the 'Group'), which comprise the Consolidated Statement of comprehensive income, the Consolidated and company Statements of financial position, the Consolidated Statement of cash flows, the Consolidated and company Statements of changes in equity for the year ended 31 December 2024, and the related notes to the financial statements, including a summary of significant accounting policies.  

The financial reporting framework that has been applied in their preparation is applicable law and accounting standards issues by the Financial Reporting Council including FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion, Moyne Roberts Limited's financial statements:


∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the group and the company as at 31 December 2024 and of the Group financial performance and cash flows for the year then ended; and


∙have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Group and  company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.
Page 7
 
 
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Independent auditor's report to the members of Moyne Roberts Limited (continued)



Other information


Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report and the Strategic Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' report and the Strategic Report for the year for which the financial statements are prepared is consistent with the financial statements, and 
∙the Directors' report and the Strategic Report have been prepared in accordance with applicable legal requirements. 

Matters on which we are required to report by exception


In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the  Directors' report and the Strategic Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


∙adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the parent company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.
Page 8
 
 
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Independent auditor's report to the members of Moyne Roberts Limited (continued)

Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, management is responsible for assessing the Group and company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Group and company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the Group and company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection requirements in the jurisdictions in which the Company operates and holds data, non-compliance related to employment regulation in the UK and other environment regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and local tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgments and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.
 
Page 9
 
 
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Independent auditor's report to the members of Moyne Roberts Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

The group engagement team shared the risk assessment with the component auditors so that they could include appropriate audit procedures in response to such risks in their work.

In response to these principal risks, our audit procedures included but were not limited to:

∙enquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
∙inspection of the company’s legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made;
∙gaining an understanding of the internal controls established to mitigate risk related to fraud;
∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing challenging assumptions and judgments made by management in their significant accounting estimates, including impairment of trade debtors, useful lives of tangible assets and goodwill, impairment of tangible assets and goodwill and impairment of investments;
∙review of the financial statement disclosures to underlying supporting documentation and inquiries of management
∙we requested information from component auditors on instances of non-compliance with laws or regulations that could give rise to a material misstatement of the group financial statements.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.


The purpose of our audit work and to whom we owe our responsibilities
 

This report is made solely to the company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

 
 
Cathal Kelly (Senior statutory auditor)
for and on behalf of
Grant Thornton
Chartered Accountants
& Statutory Auditors
Dublin 2
 
Date: 26 September 2025
Page 10
 
Moyne Roberts Limited
 

Consolidated statement of comprehensive income
For the year ended 31 December 2024

2024
2023
Note
£
£

  

Turnover
 4 
63,391,768
58,318,911

Cost of sales
  
(12,450,377)
(12,818,749)

Gross profit
  
50,941,391
45,500,162

Distribution costs
  
(16,892,229)
(5,116,824)

Administrative expenses
  
(23,327,073)
(29,061,571)

Other operating income
 5 
299,723
190,425

Operating profit
 6 
11,021,812
11,512,192

Interest receivable and similar income
  
62,901
28,021

Interest payable and similar expenses
  
(487)
(1,971)

Profit before taxation
  
11,084,226
11,538,242

Tax on profit
 10 
(2,621,084)
(2,417,898)

Profit for the year
  
8,463,142
9,120,344

  

Currency translation differences
  
(1,042,996)
(288,962)

Other comprehensive income for the year
  
(1,042,996)
(288,962)

Total comprehensive income for the year
  
7,420,146
8,831,382

Profit for the year attributable to:
  

Owners of the parent company
  
8,463,142
9,120,344

The notes on pages 18 to 45 form part of these financial statements.

Page 11
 
Moyne Roberts Limited
Registered number:02548618

Consolidated statement of financial position
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 12 
21,896,497
11,753,911

Tangible assets
 13 
5,668,234
4,170,958

Investments
 14 
275,267
71,241

  
27,839,998
15,996,110

Current assets
  

Stocks
 15 
4,347,499
3,886,798

Debtors: amounts falling due within one year
 16 
11,589,820
11,089,910

Cash at bank and in hand
 17 
8,807,074
12,585,528

  
24,744,393
27,562,236

Current liabilities
  

Creditors: amounts falling due within one year
 18 
(15,827,279)
(7,961,865)

Net current assets
  
 
 
8,917,114
 
 
19,600,371

Total assets less current liabilities
  
36,757,112
35,596,481

Provisions for liabilities
  

Deferred taxation
 19 
(220,295)
(4,684)

Net assets
  
 
 
36,536,817
 
 
35,591,797


Capital and reserves
  

Called up share capital 
 20 
3,000
3,000

Share premium account
 21 
2,560
2,560

Profit and loss account
 21 
36,531,257
35,586,237

Equity attributable to owners of the parent company
  
36,536,817
35,591,797


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.




................................................
D P Cosgrove
Director

The notes on pages 18 to 45 form part of these financial statements.

Page 12
 
Moyne Roberts Limited
Registered number:02548618

Company statement of financial position
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
1,022,666
1,054,994

Investments
 14 
11,229,353
11,229,353

  
12,252,019
12,284,347

Current assets
  

Debtors: amounts falling due within one year
 16 
4,420,323
6,133,776

Cash at bank and in hand
 17 
54,663
32,330

  
4,474,986
6,166,106

Current liabilities
  

Creditors: amounts falling due within one year
 18 
(35,973)
(13,975)

Net current assets
  
 
 
4,439,013
 
 
6,152,131

Net assets
  
16,691,032
18,436,478


Capital and reserves
  

Called up share capital 
 20 
3,000
3,000

Share premium account
 21 
2,560
2,560

Profit and loss account brought forward
  
18,430,918
20,299,005

Profit for the year
  
4,729,680
2,047,292

Other changes in the profit and loss account

  

(6,475,126)
(3,915,379)

Profit and loss account carried forward
  
16,685,472
18,430,918

  
16,691,032
18,436,478


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.


................................................
D P Cosgrove
Director

The notes on pages 18 to 45 form part of these financial statements.

Page 13
 
Moyne Roberts Limited
 

Consolidated statement of changes in equity
For the year ended 31 December 2024


Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent company
Total equity

£
£
£
£
£


At 1 January 2023
3,000
2,560
30,670,234
30,675,794
30,675,794


Comprehensive income for the year

Profit for the year
-
-
9,120,344
9,120,344
9,120,344

Currency translation differences
-
-
(288,962)
(288,962)
(288,962)
Total comprehensive income for the year
-
-
8,831,382
8,831,382
8,831,382

Dividends: Equity capital
-
-
(3,915,379)
(3,915,379)
(3,915,379)



At 1 January 2024
3,000
2,560
35,586,237
35,591,797
35,591,797


Comprehensive income for the year

Profit for the year
-
-
8,463,142
8,463,142
8,463,142

Currency translation differences
-
-
(1,042,996)
(1,042,996)
(1,042,996)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(6,475,126)
(6,475,126)
(6,475,126)


At 31 December 2024
3,000
2,560
36,531,257
36,536,817
36,536,817


The notes on pages 18 to 45 form part of these financial statements.

Page 14
 
Moyne Roberts Limited
 

Company statement of changes in equity
For the year ended 31 December 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
3,000
2,560
20,299,005
20,304,565


Comprehensive income for the year

Profit for the year
-
-
2,047,292
2,047,292
Total comprehensive income for the year
-
-
2,047,292
2,047,292

Dividends: Equity capital
-
-
(3,915,379)
(3,915,379)



At 1 January 2024
3,000
2,560
18,430,918
18,436,478


Comprehensive income for the year

Profit for the year
-
-
4,729,680
4,729,680


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(6,475,126)
(6,475,126)


At 31 December 2024
3,000
2,560
16,685,472
16,691,032


The notes on pages 18 to 45 form part of these financial statements.

Page 15
 
Moyne Roberts Limited
 
Consolidated statement of cash flows
For the year ended 31 December 2024
2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
8,463,142
9,120,344

Adjustments for:

Amortisation of intangible assets
2,225,955
1,754,278

Depreciation of tangible assets
522,396
421,240

Loss on disposal of tangible assets
(27,917)
(73,578)

Interest paid
487
1,971

Interest received
(62,901)
(28,021)

Taxation charge
2,621,084
2,417,898

Increase in stocks
(460,701)
(46,100)

Increase in debtors
(2,900,698)
(1,394,304)

Increase in creditors
8,075,452
2,676,834

Corporation tax paid
(2,961,911)
(2,146,934)

Effect of foreign exchange rate changes
(939,420)
(354,748)

Net cash generated from operating activities

14,554,968
12,348,880

Cash flows from investing activities

Investment in subsidiaries
(7,958,314)
(1,912,635)

Purchase of intangible assets
(1,658,360)
-

Purchase of tangible fixed assets
(2,116,331)
(707,968)

Sale of tangible fixed assets
21,005
275,047

Purchase of unlisted and other investments
(204,026)
-

Interest received
62,901
28,021

HP interest paid
(4,684)
(19,646)

Net cash from investing activities

(11,857,809)
(2,337,181)

Cash flows from financing activities

Dividends paid
(6,475,126)
(3,915,379)

Interest paid
(487)
(1,971)

Net cash used in financing activities
(6,475,613)
(3,917,350)

Net (decrease)/increase in cash and cash equivalents
(3,778,454)
6,094,349

Cash and cash equivalents at beginning of year
12,585,528
6,491,179

Cash and cash equivalents at the end of year
8,807,074
12,585,528


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
8,807,074
12,585,528

Page 16
 
Moyne Roberts Limited
 

Consolidated analysis of net debt
For the year ended 31 December 2024





At 1 January 2024
Cash flows
New finance leases
At 31 December 2024
£

£

£

£

Cash at bank and in hand

12,585,528

(3,778,454)

-

8,807,074

Debt due within 1 year

-

(4,975,080)

-

(4,975,080)

Finance leases

-

-

43,276

43,276


12,585,528
(8,753,534)
43,276
3,875,270

The notes on pages 18 to 45 form part of these financial statements.

Page 17
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Moyne Roberts Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is Unit 81, Roman Way Industrial Estate, Preston, PR2 5BB.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 18
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.3
Foreign currency translation (continued)

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group has transferred the significant risks and rewards of ownership to the buyer;
∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue can be measured reliably;
∙it is probable that the Group 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.

Page 19
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Leased assets: the Group as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

 Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

Page 20
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.10

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

 Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 21
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.12

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
Straight line 20 - 30 years
Long-term leasehold property
-
Straight line over life of lease
Short-term leasehold property
-
Straight line over life of lease
Plant and machinery
-
Straight line 4 - 10 years
Motor vehicles
-
Reducing balance 20%
Fixtures and fittings
-
Straight line 3 - 10 years
Computer equipment
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.13

 Impairment of tangible fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine
whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 22
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.14

 Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.15

 Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in unlisted shares are measured at fair value. Changes in fair value are recognised in profit or loss. 

 
2.16

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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

 
2.17

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 23
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.18

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.19

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.20

 Provisions for liabilities

Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of theexpenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Statement of
financial position.

 
2.21

 Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
∙at fair value with changes recognised in the Consolidated statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
∙at cost less impairment for all other investments.

Page 24
 
Moyne Roberts Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.21
 Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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

 
2.22

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

When preparing the financial statements, management undertakes a number of judgments, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following are significant management judgments in applying the accounting policies of the company that have the most significant effect on the financial statements.
Judgments
In the process of applying the company’s accounting policies, management has made the following judgments, apart from those involving estimations, which have the most significant effect on the amounts recognised in the financial statements:

Assessing whether an agreement is a finance or operating lease
Management assesses at the inception of the lease whether an arrangement is a finance or operating lease based on who bears substantially all the risks and benefits incidental to the ownership of the leased item. The company has entered into a lease agreement for some its office premises as a lessee. Based on management’s assessment, the risks and rewards of owning the items leased by the company are retained by the lessor and therefore accounts for such agreement as an operating lease.

Page 25
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

3.Judgments in applying accounting policies (continued)

Estimates
Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially different.

Useful lives of tangible assets and goodwill
Management reviews its estimates the useful lives of its tangible and intangible assets based on the period over which the assets are expected to be available for use. The company reviews annually the estimated useful lives of tangible and intangible assets based on factors that include asset utilisation, internal technical evaluation, technological changes, environmental and anticipated use of the assets tempered by related industry benchmark information. It is possible that future results of operations could be materially affected by changes in the company's estimates brought about by changes in the factors mentioned. The carrying value of goodwill and tangible fixed assets are disclosed at note 12 and 13 respectively.

Impairment of tangible and intangible fixed assets, including goodwill
The company assesses impairment on tangible and intangible assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The factors that the company considers important which could trigger an impairment review include the following: 

∙significant under performance relative to expected historical or projected future operating results;
∙significant changes in the manner of use of the acquired assets or the strategy for overall business; and
∙significant negative industry or economic trends.

In determining the present value of estimated future cash flows expected to be generated from the continued use of the assets, the company is required to make estimates and assumptions that can materially affect the financial statements.

These assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss would be recognised whenever evidence exists that the carrying value is not recoverable. For purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows.
An impairment loss is recognised and charged to profit or loss if the discounted expected future cash flows are less than the carrying amount. Fair value is estimated by discounting the expected future cash flows using a discount factor that reflects the risk-free rate of interest for a term consistent with the period of expected cash flows. The carrying value of goodwill and tangible fixed assets are disclosed at note 12 and 13 respectively.

Impairment of investments
Determining whether the carrying value of financial assets has been impaired requires an estimation of the value in use of the investment in subsidiaries. The carrying value of investments is disclosed at note 14.

Impairment of trade debtors
The company estimates the allowance for doubtful trade receivables based on assessment of specific accounts where the company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgment used was based on the best available facts and circumstances including but not limited to, the length of relationship. The carrying value of trade debtors is disclosed at note 16.
Page 26
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

3.Judgments in applying accounting policies (continued)

Recoverability of stocks
The company has made judgments when assessing the impairment of its stock. Slow moving stock, overstocked and obsolete items are reviewed regularly, and impairment has been reviewed with reference to historical loss experience updated for current conditions. The carrying value of stocks  is disclosed at note 15.

Recoverability of debtors
The company has made judgments when assessing the impairment of its debtors. Outstanding balances have been grouped on the basis of similar risk characteristics such as past-due status, and impairment has been reviewed with reference to historical loss experience updated for current conditions. The carrying value of debtors  is disclosed at note 16.


4.


Turnover

In accordance with Schedule 1, p68 of SI2008/410, the directors have taken the exemption from disclosing particulars of turnover on the grounds that it would be seriously prejudicial to the company.


5.


Other operating income

2024
2023
£
£

Other operating income
203,014
190,425

Profit on disposal of tangible assets
11,709
-

Fees receivable
85,000
-

299,723
190,425



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
522,396
421,973

Amortisation of goodwill
2,225,739
1,754,278

Gain on disposal of fixed assets
(27,917)
(73,578)

Defined pension contribution scheme
1,029,572
861,501

Exchange differences
(213,013)
(90,310)

Other operating lease rentals
729,350
1,150,216

Page 27
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

7.


Auditor's remuneration

During the year, the Group obtained the following services from the company's auditor:


2024
2023
£
£

Fees payable to the company's auditor for the audit of the consolidated and parent company's financial statements
85,000
80,000



8.
Employees

Staff costs, including directors' remuneration, were as follows:


Group
2024
Group
2023

Wages and salaries
21,480,221
19,426,592

Social security costs
2,773,823
2,365,308

Cost of defined contribution scheme
1,029,572
861,501

25,283,616
22,653,401

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Sales, engineers and stores
457
430



Administration and support
177
123

634
553


9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
166,700
185,710

Directors national insurance
3,585
14,963

170,285
200,673


During the year retirement benefits were accruing to no directors (2023: £NIL) in respect of defined contribution pension schemes.

Page 28
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
2,666,238
2,781,925

Adjustments in respect of previous periods
(32,438)
(367,773)


Total current tax
2,633,800
2,414,152

Deferred tax


Origination and reversal of timing differences
(12,716)
3,746

Total deferred tax
(12,716)
3,746


Taxation on profit on ordinary activities
2,621,084
2,417,898

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of25% (2023:25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
11,084,226
11,538,242


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (per 1 April 2023, until that date 19%)
2,771,057
2,265,870

Effects of:


Expenses not deductible for tax purposes
441,709
466,439

Difference in depreciation and capital allowances
32,413
29,285

Adjustments to tax charge in respect of prior period
(32,438)
(367,773)

Effect of foreign tax rates
(770,034)
56,825

Non-taxable income
-
(96,062)

Changes in provision
1,318
(508)

Other tax charge movement
189,775
102,801

Unrelieved tax losses carried forward
-
(38,979)

Deferred tax movement
(12,716)
-

Total tax charge for the year
2,621,084
2,417,898

Page 29
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

11.


Dividends

2024
2023
£
£


Dividends paid on ordinary shares of £1 each
6,475,126
3,915,379


12.


Intangible assets

Group





Trademarks
Goodwill
Total

£
£
£



Cost


At 1 January 2024
-
31,312,173
31,312,173


Additions
1,658,360
10,710,181
12,368,541



At 31 December 2024

1,658,360
42,022,354
43,680,714



Amortisation


At 1 January 2024
-
19,558,262
19,558,262


Charge for the financial year 
-
2,226,463
2,226,463


Foreign exchange movement
-
(508)
(508)



At 31 December 2024

-
21,784,217
21,784,217



Net book value



At 31 December 2024
1,658,360
20,238,137
21,896,497



At 31 December 2023
-
11,753,911
11,753,911



Page 30
 
Moyne Roberts Limited
 
 
 

Notes to the financial statements
For the year ended 31 December 2024


13.


Tangible fixed assets


Group





Freehold property
Long-term leasehold property
Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£
£
£



Cost or valuation


At 1 January 2024
3,642,492
1,618,209
387,983
660,717
648,010
1,090,356
376,406
8,424,173


Additions
1,242,685
-
-
(29,928)
240,483
632,085
31,006
2,116,331


Disposals
(1,681)
-
-
(415,311)
(117,108)
(467,573)
(168,224)
(1,169,897)


Exchange adjustments
(167,109)
-
-
(17,873)
(668)
(32,442)
-
(218,092)



At 31 December 2024

4,716,387
1,618,209
387,983
197,605
770,717
1,222,426
239,188
9,152,515



Depreciation


At 1 January 2024
1,729,507
563,215
125,002
497,313
191,470
836,853
309,855
4,253,215


Charge for the financial year 
149,480
32,328
6,900
51,498
86,561
142,584
53,045
522,396


Disposals
(408)
-
-
(470,159)
(77,398)
(460,620)
(168,224)
(1,176,809)


Exchange adjustments
(79,288)
-
-
(13,817)
2,849
(24,265)
-
(114,521)



At 31 December 2024

1,799,291
595,543
131,902
64,835
203,482
494,552
194,676
3,484,281



Net book value



At 31 December 2024
2,917,096
1,022,666
256,081
132,770
567,235
727,874
44,512
5,668,234

Page 31  
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

           13.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
£

Freehold
2,917,096

Long leasehold
1,022,666

Short leasehold
256,081

4,195,843



Company






Long-term leasehold property

£

Cost or valuation


At 1 January 2024
1,618,209



At 31 December 2024

1,618,209



Depreciation


At 1 January 2024
563,215


Charge for the financial year 
32,328



At 31 December 2024

595,543



Net book value



At 31 December 2024
1,022,666






Page 32
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

14.


Investments

Group





Other fixed asset investments

£



Cost or valuation


At 1 January 2024
71,241


Additions
207,295


Foreign exchange movement
(3,269)



At 31 December 2024
275,267




Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
11,229,353



At 31 December 2024
11,229,353





Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Walker Fire (UK) Limited
Unit 2 Roman Court, Roman Way, Ribbleton, Preston, PR2 5BB
Sale and servicing of fire equipment
Ordinary
100%
Moyne Roberts (Ireland) Limited
Moynehall, Cavan, Ireland
Manufacture of fire equipment
Ordinary
100%
Apex Fire Limited
Moynehall, Cavan, Ireland
Sale and servicing of fire equipment
Ordinary
100%
Smeba Brandbeveiliging B.V.
Bijsterhuizen 2028, 6604 LJ Wijchen,Netherlands
Sale and servicing of fire equipment
Ordinary
100%
Moyne Roberts GmbH
Krannenburk, Germany
Sales and marketing
Ordinary
100%
Smeba Brandbeveiliging Noord B.V.
Bijsterhuizen 2028, 6604 LJ Wijchen, Netherlands
Sale and servicing of fire equipment.
Ordinary
100%
Page 33
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024
Subsidiary undertakings (continued)


Name

Registered office

Principal activity

Class of shares

Holding

Smeba Brandbeveiliging Zuid B.V.
Bijsterhuizen 2028, 6604 LJ Wijchen, Netherlands
Sale and servicing of fire equipment.
Ordinary
100%
Smeba Brandbeveiliging Nijnlegen B.V.
Bijsterhuizen 2028, 6604 LJ Wijchen, Netherlands
Sale and servicing of fire equipment.
Ordinary
100%
Smeba Brandbeveilging
Wijchen, Netherlands
Sale and servicing of fire equipment.
Ordinary
100%
Smeba MHD B.V.
Bijsterhuizen 2028, 6604 LJ Wijchen, Netherlands
Sale and servicing of fire equipment.
Ordinary
100%
Smeba Fire BVBA
Heist op den Berg, Belgium
Sale and servicing of fire equipment.
Ordinary
100%
Fire Defence (NI) Limited
67 Moira Road, Hillsborough, Northern Ireland
Sale and servicing of fire equipment.
Ordinary
100%
Cook Weiss Fire & Security Limited
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Fire service activities
Ordinary
100%
Cook Fire and Security Limited
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Sale and servicing of fire equipment.
Ordinary
100%
Keyways Security Systems Limited
Unit 2, Roman Court, Roman Way Longridge Road, Ribbleton, Preston PR2 5BB, England
Design, installation, commissioning and maintenance of fire and security solutions
Ordinary
100%
G.B. Security Systems Limited
Unit 2, Roman Court, Roman Way Longridge Road, Ribbleton, Preston PR2 5BB, England
Design, installation, commissioning and maintenance of fire and security solutions
Ordinary
100%
Castle Alarms 1981 Limited
Unit 2, Roman Court, Roman Way Longridge Road, Ribbleton, Preston PR2 5BB, England
Design, installation, commissioning and maintenance of fire and security solutions
Ordinary
100%
Westmorland Fire and Security Limited
Unit 2, Roman Court, Roman Way Longridge Road, Ribbleton, Preston PR2 5BB, England
Dormant
Ordinary
100%
Fire Crest Fire Protection Ltd
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Sale and servicing of fire equipment
Ordinary
100%
Nationwide Fire Training Limited
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Sale and servicing of fire equipment
Ordinary
100%
Electronic Technology (Cork) Ireland Limited
19 Summerhill North, Co Cork, T23HW22
Sale and servicing of electrical equipment
Ordinary
100%
Page 34
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024
Subsidiary undertakings (continued)


Name

Registered office

Principal activity

Class of shares

Holding

Southern Fire Protection Limited
Unit 5 Links House Dundas Lane, Portsmouth Hampshire, PO3 SBL
Sale and servicing of fire equipment
Ordinary
100%
Detector Alarms Limited
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Sale and servicing of fire equipment
Ordinary
100%
Focus Security Solutions (NI) Limited
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Sale and servicing of fire equipment
Ordinary
100%
Tod Security Systems Limited
Unit 81 Roman Way Industrial Estate, Preston, PR2 SBB
Sale of security equipment, alarm installation and maintenance
Ordinary
100%
A & A Security Systems Ltd
16 The Orchards, Courtbrack Avenue, South Circular Road, Limerick, Ireland
Sale and servicing of fire equipment
Ordinary
100%
Horizon Safety Systems Ltd
Carlow Gateway Business Centre, Athy Road, Co. Carlow, Ireland
Sale and servicing of fire equipment
Ordinary
100%
Horizon Safety & Security Systems Ltd
Carlow Gateway Business Centre, Athy Road, Co. Carlow, Ireland
Sale and servicing of fire equipment
Ordinary
100%
Nojo Vastgoed BV
Tiber 46, 2491 's-Gravenhage, Netherlands
Sale and servicing of fire equipment
Ordinary
100%
Fire Control B.V
Tiber 46, 2491 's-Gravenhage, Netherlands
Sale and servicing of fire equipment
Ordinary
100%
Sicli Fire Protection South B.V
Route de Lennik 451, 1070 Anderlecht, Belgium
Sale and servicing of fire equipment
Ordinary
100%
Sicli Fire Protection North B.V.
Route de Lennik 451, 1070 Anderlecht, Belgium
Sale and servicing of fire equipment
Ordinary
100%
Berki Opleiding en Advies B.V
Einsteinstraat 3, 6604 BW, Wijchen, the Netherlands
Sale and servicing of fire equipment
Ordinary
100%
Berki Brandbeveiliging en Advies B.V.
Einsteinstraat 3, 6604 BW, Wijchen, the Netherlands
Sale and servicing of fire equipment
Ordinary
100%
Tod Holdings Limited
Unit 81 Roman Way
Industrial Estate,
Preston, Lancashire,
PR2 5BB, United
Kingdom
Holding entity
Ordinary
100%

Page 35
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

15.


Stocks

Group
Group
2024
2023
£
£

Finished goods and goods for resale
4,347,499
3,886,798


16.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Trade debtors
9,516,286
9,331,872
-
-

Amounts owed by group undertakings
-
-
4,398,820
6,081,432

Other debtors
314,856
186,440
21,503
52,344

Prepayments and accrued income
1,758,678
1,571,598
-
-

11,589,820
11,089,910
4,420,323
6,133,776


Amounts owed by group undertakings are non-interest bearing, unsecured and repayable on demand.


17.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
8,807,074
12,585,528
54,663
32,330


Page 36
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

18.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Payments received on account
164,417
121,358
-
-

Trade creditors
2,463,574
1,950,526
-
3,850

Loan from related party
4,975,080
-
-
-

Corporation tax
449,470
1,321,058
21,998
-

Other taxation and social security
1,712,057
1,891,675
-
-

Obligations under finance lease and hire purchase contracts
43,276
-
-
-

Other creditors
768,797
34,019
3,850
-

Accruals
2,275,427
1,831,549
10,125
10,125

Deferred consideration
1,995,797
300,000
-
-

Deferred income
979,384
511,680
-
-

15,827,279
7,961,865
35,973
13,975


Amounts owed to group undertakings are non-interest bearing, unsecured and repayable on demand.

Taxation and social security are repayable at various dates over the coming months in accordance with the applicable statutory provisions.

Page 37
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

19.


Deferred taxation


Group



2024


£






At beginning of year
(4,684)


Credit to profit or loss
12,716


Arising on business combinations
(228,327)



At end of year
(220,295)

Group
Group
2024
2023
£
£

Accelerated capital allowances
8,032
(4,684)

Arising on Business combination
(228,327)
-

(220,295)
(4,684)

20.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,000 (2023: 3,000) Ordinary shares of £1.00 each
3,000
3,000



21.


Reserves

Share premium account

Share premium account includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account

Includes all current and prior period retained profits and losses.

Page 38
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

22.
 

Business combinations

On 6 November 2024, Apex Fire Limited, a wholly owned subsidiary, purchased 100% of the share capital of Horizon Safety Systems Limited and Horizon Safety and Security Systems Limited.


Recognised consolidated amounts of identifiable assets acquired and liabilities assumed

Book value and Fair value
£

Fixed Assets

Tangible
241,257

Other investments
207,295

448,552

Current assets

Stocks
285,706

Tade debtors
859,013

Prepayment
21,983

Bank
272,020

Total assets
1,887,274

Creditors

Creditors due within one year
(427,583)

Total identifiable net assets
1,459,691


Goodwill
1,849,853

Total purchase consideration
3,309,544

Consideration

£


Cash
2,571,575

Deferred consideration
737,969

Total purchase consideration
3,309,544

Cash outflow on acquisition

£


Purchase consideration settled in cash
2,571,575

Page 39
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

22.Business combinations (continued)

On 2 October 2024, Moyne Roberts (Ireland) Limited, a wholly owned subsidiary, purchased 100% of the share capital of Berki Brandbeveiliging B.V. and Berki Opleiding En Advies B.V.

Recognised consolidated amounts of identifiable assets acquired and liabilities assumed

Book value and Fair value
£

Fixed Assets

Tangible
81,289

Intangible asset
21,476

102,765

Current Assets

Stocks
250,859

Trade debtors
377,500

Other receivable
373,520

Prepayment
9,276

Bank
177,750

Total Assets
1,291,670

Creditors

Creditors due within one year
(151,761)

Total Identifiable net assets
1,139,909


Goodwill
4,288,562

Total purchase consideration
5,428,471

Consideration

£


Cash
4,284,960

Creditors
1,143,511

Total purchase consideration
5,428,471

Page 40
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

22.Business combinations (continued)


£


Purchase consideration settled in cash
4,284,960

Deferred consideration
808,826

Assumption of liability
334,685

Net cash outflow on acquisition
5,428,471

On 1 June 2024, Electronic Technology (Cork) Limited, a wholly owned subsidiary, purchased 100% of the share capital of A & A Secuirty Sytems Limited.

Recognised amounts of identifiable assets acquired and liabilities assumed

Book value and Fair value
£

Fixed Assets

Tangible
20,714

Intangible asset
-

20,714

Current Assets

Stocks
57,603

Tade debtors
103,157

Other receivable
7,283

Prepayment
5,484

Bank
161,890

Total Assets
356,131

Creditors

Creditors due within one year
(121,274)

Creditors due after one year
(15,841)

Total Identifiable net assets
219,016


Goodwill
441,461

Total purchase consideration
660,477

Consideration

£


Cash
660,477

Page 41
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

22.Business combinations (continued)

Cash outflow on acquisition

£


Purchase consideration settled in cash
660,477

On 18 December 2024, Smeba Brandbeveiliging BV, a wholly owned subsidiary, purchased 100% share capital of Sicli Fire Protection North and Sicli Fire Protection South.

Recognised amounts of identifiable assets acquired and liabilities assumed

Book value and Fair value
£

Fixed Assets

Tangible Assets
408,786

Intangible Assets
1,634,314

2,043,100

Current Assets

Stocks
177,445

Total Assets
2,220,545

Due within one year
-

Total Identifiable net assets
2,220,545


Goodwill recorded on consolidation
-

Consideration

£


Cash
2,220,545

Cash outflow on acquisition

£


Purchase consideration settled in cash
2,220,545

Page 42
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

22.Business combinations (continued)

On 19 January 2024, Smeba Brandbeveiliging BV, a wholly owned subsidiary, purchased 100% share capital of  purchased NoJo Vastgoed BV and Fire-Control BV.

Recognised amounts of identifiable assets acquired and liabilities assumed

Book value and Fair value
£

Fixed Assets

Tangible Assets
1,038,083

Intangible Assets
15,840

1,053,923

Current Assets

Cash and Cash equivalent
325,699

Trade debtors
608,443

Stocks
182,767

Other Debtors
164,697

Total Assets
2,335,529

Creditors

Due within one year
(674,372)

Total Identifiable net assets
1,661,157


Goodwill recorded on consolidation
2,291,801

Total purchase consideration
3,952,958

Consideration

£

Cash

Cash outflow on acquisition
3,231,571

Deferred consideration
721,387

Purchase consideration settled in cash
3,952,958

Cash outflow on acquisition

£


Purchase consideration settled in cash
3,231,571

Page 43
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

23.


Pension commitments

The group operates a define contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £1,029,572 (2023: £861,501).


24.


Commitments under operating leases

At 31 December 2024 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
1,195,861
1,031,746

Later than 1 year and not later than 5 years
2,045,913
1,220,516

Later than 5 years
290,693
-

3,532,467
2,252,262

25.


Related party transactions

The company has availed of the exemption in FRS102 Section 33, Paragraph 33.1A which allows non-disclosure of transactions between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.


26.


Comparative information

Comparative information has been reclassified where necessary to conform to current year presentation.


27.


Post balance sheet events

A merger by acquisition between the Apex Fire Limited and Electronic Technology (Cork) Limited has taken place and is effective from 1 January 2025. Both companies are wholly owned subsidiaries of the group.

A merger by acquisition between the Apex Fire Limited and A & A Security Systems Limited has taken place and is effective from 1 August 2025. Both companies are wholly owned subsidiaries of the group.

In June 2025, Smeba Brandbeveiliging BV, a wholly owned subsidiary of the group, acquired 100% of the share capital in Cura Groep B.V. and its subsidiaries 

In March 2025, Walker Fire Limited, a wholly owned subsidiary, purchased 100% of the share capital of Spitfire Services (Hull) Ltd and Blackwood Fire Ltd.

Page 44
 
Moyne Roberts Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

28.


Audit-exempt subsidiaries

For the year ended 31 December 2024, the following subsidiary companies were entitled to exemption from audit under section 479A of the Companies Act 2006:
Castle Alarms 1981 Limited
Focus Security Solutions (NI) Limited
Detector Alarms Limited
Southern Fire Protection Limited
Fire Defence (NI) Limited
Fire Crest Fire Protection Limited 
Cook Fire and Security Limited 
Nationwide Fire Training Limited
G.B. Security Systems Limited 
Westmorland Fire and Security Limited 
Cook Weiss Fire and Security Limited
Tod Security Systems Limited
Keyways Security Systems Ltd
Tod Holdings Limited

Page 45