REGISTERED NUMBER: 02046639 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2024

for

MAP Ventilation Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

R Medley

J R Medley

Mrs M A Medley

M D Rowley

D Rowley

Ms T J Thomson

SECRETARY:

J R Medley

REGISTERED OFFICE:

Unit 1

Hanwiz House

Milner Way

Ossett

West Yorkshire

WF5 9JF

REGISTERED NUMBER:

02046639 (England and Wales)

SENIOR STATUTORY AUDITOR:

R J Hudson FCA

AUDITORS:

Stirk Lambert & Co

Chartered Accountants

Statutory Auditors

Russell Chambers

61a North Street

Keighley

BD21 3DS

FIXED ASSETS

Tangible assets

5

235,525

273,596

CURRENT ASSETS

Stocks

49,100

67,108

Debtors

6

1,539,953

1,845,143

Cash at bank and in hand

1,410,445

3,264,172

2,999,498

5,176,423

CREDITORS

Amounts falling due within one year

7

(1,087,258

)

(991,267

)

NET CURRENT ASSETS

1,912,240

4,185,156

TOTAL ASSETS LESS CURRENT LIABILITIES

2,147,765

4,458,752

PROVISIONS FOR LIABILITIES

(38,033

)

(41,790

)

NET ASSETS

2,109,732

4,416,962

CAPITAL AND RESERVES

Called up share capital

8

102

102

Retained earnings

2,109,630

4,416,860

SHAREHOLDERS' FUNDS

2,109,732

4,416,962

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

J R Medley - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements show the results for the company as an individual entity, being a subsidiary company only.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and

services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have

transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service

transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the

outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

Other

Motor vehicles

-

33% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Financial assets

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

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

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

Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 32 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

16,582

536,853

42,676

318,847

914,958

Additions

-

23,198

-

74,985

98,183

Disposals

-

(52,940

)

(17,190

)

(77,466

)

(147,596

)

At 31 December 2024

16,582

507,111

25,486

316,366

865,545

DEPRECIATION

At 1 January 2024

9,043

458,451

18,498

155,370

641,362

Charge for year

753

31,570

7,551

70,587

110,461

Eliminated on disposal

-

(52,864

)

(16,910

)

(52,029

)

(121,803

)

At 31 December 2024

9,796

437,157

9,139

173,928

630,020

NET BOOK VALUE

At 31 December 2024

6,786

69,954

16,347

142,438

235,525

At 31 December 2023

7,539

78,402

24,178

163,477

273,596

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,174,550

1,466,307

Amounts owed by group undertakings

131,764

131,764

Other debtors

37,787

34,548

VAT

127,434

136,245

Prepayments

68,418

76,279

1,539,953

1,845,143

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

612,295

508,735

Amounts owed to group undertakings

15,552

15,552

Tax

122,238

99,123

Social security and other taxes

84,133

107,023

Directors' current accounts

62,980

61,711

Accrued expenses

190,060

199,123

1,087,258

991,267

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

A Ordinary

£1

100

100

1

B Ordinary

£1

1

1

1

C Ordinary

£1

1

1

102

102

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

R J Hudson FCA (Senior Statutory Auditor)

for and on behalf of Stirk Lambert & Co

10.	RELATED PARTY DISCLOSURES

Directors Messrs R and J R Medley own 70.4% of the shares in Horbury Bridge (Holdings) Limited. Horbury Bridge (Holdings) Limited controls the share capital of subsidiary companies Machenair Limited (100%) and Horbury Bridge (Properties) Limited (100%). Transactions with fellow subsidiaries are disclosed via the group consolidated financial statements.

11.	ULTIMATE CONTROLLING PARTY

Horbury Bridge (Holdings) Limited, a company registered in England and Wales, is regarded as the parent company of the group.