Registration number:
Mocap Limited
for the Year Ended 31 December 2024
Mocap Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Mocap Limited
Company Information
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Directors |
G J Miller J T Miller P T Miller |
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Company secretary |
S S Miller |
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Registered office |
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Auditors |
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Mocap Limited
Strategic Report for the Year Ended 31 December 2024
The directors present their strategic report for the year ended 31 December 2024.
Principal activity
The principal activity of the company is the manufacture and supply of vinyl and silicone caps, grips, sleeves, plugs, packaging cases and clear plastic tubing.
Manufacture is via Blow Moulding, Injection Moulding, Extrusion and Dip Moulding processes.
Fair review of the business
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the end of the year. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.
During the year, the company focussed on cost efficiencies and diversifying its customer base with a new sales director appointed to focus on group sales strategies.
The company has invested in a significant amount of tooling during recent years to support the production of Blow and Injection Moulded products and reduce the requirement to import various products. The company anticipates the efficiencies from these machines will continue to come to fruition during 2025 and subsequent years thereafter.
The company continually re-evaluates its manufacturing capabilities and resources required to expand into new product lines. We will look to refocus on additional investment in marketing and exhibitions. We are investing in a dispatch warehouse located in Poland to create an improved presence in Europe in 2025. We continue to promote our ability to produce a diverse range of quality products within key timescales.
We consider that our key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover and gross profit margin.
The turnover of the company has decreased this year from £8,173,454 to £7,645,371, particularly with difficulties in reaching the European market. The gross profit margin also decreased on the prior year (2024 - 26.09%, 2023 - 29.56%) with increasing direct wages costs and increased depreciation from the investment in tooling machinery in the UK.
The company continue to invest in marketing to launch product ranges into the European market. The company made a loss before tax this year of £819,081 (2023 - profit of £369,952), which included a foreign exchange loss of £192,011 (2023 - gain of £50,119) attributable to the fluctuations in exchange rates during the year. At the end of the year the net assets totalled £2,861,468.
Approved and authorised by the
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Mocap 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.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The business' principal instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.
Price risk, credit risk, liquidity risk and cash flow risk
In respect of bank balances, all of the business' cash balances are held in such a way that achieves a competitive rate of interest.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
The company is a lessee in respect of short leasehold property. The liquidity risk in respect of these is managed by ensuring that there are sufficient funds available to meet the payments when they become due.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
Director
Mocap Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Mocap Limited
Independent Auditor's Report to the Members of Mocap Limited
Opinion
We have audited the financial statements of Mocap Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and 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 United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and 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 director's 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other 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 or apparent material misstatements, 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.
Mocap Limited
Independent Auditor's Report to the Members of Mocap Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the 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. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, 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, the directors are responsible for assessing the 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 the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives 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 our 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.
Mocap Limited
Independent Auditor's Report to the Members of Mocap Limited
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• We obtained an understanding of the legal and regulatory frameworks that are applicable to this company and its sector and determined that the most significant are those relating to the reporting framework and the relevant UK tax legislation.
• We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.
• As an audit engagement team, we assessed the susceptibility of the company’s financial statements to material misstatement including how fraud might occur and considered the opportunities and incentives that may exist within the company for fraud. We considered the controls that the company has established to address the risks identified to prevent, deter and detect fraud; and how the management and directors monitor those controls.
• Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Those procedures involved: - enquiries of management and those charged with governance; - journal entry testing; - assessing whether judgements in making accounting estimates are indicative of a potential bias; and – evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
• Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included revenue recognition and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
• We remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Mocap Limited
Independent Auditor's Report to the Members of Mocap Limited
Use of our report
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.
For and on behalf of
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shropshire
SY2 6LG
Mocap Limited
Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating (loss)/profit |
(593,101) |
366,325 |
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Other interest receivable and similar income |
|
|
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Interest payable and similar expenses |
( |
( |
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(225,980) |
3,627 |
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(Loss)/profit before tax |
( |
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Tax on (loss)/profit |
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(Loss)/profit for the financial year |
( |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Mocap Limited
(Registration number: 03088682)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
- |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
111,002 |
111,002 |
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Retained earnings |
2,750,466 |
3,476,607 |
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Shareholders' funds |
2,861,468 |
3,587,609 |
Approved and authorised by the
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Mocap Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Loss for the year |
- |
( |
( |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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Profit for the year |
- |
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At 31 December 2023 |
111,002 |
3,476,607 |
3,587,609 |
Mocap Limited
Statement of Cash Flows for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Cash flows from operating activities |
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(Loss)/profit for the year |
( |
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
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Loss/(profit) on disposal of tangible assets |
|
( |
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Finance income |
( |
( |
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Finance costs |
|
|
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Income tax expense |
( |
( |
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|
( |
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||
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Working capital adjustments |
|||
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(Increase)/decrease in stocks |
( |
|
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Decrease/(increase) in trade debtors |
|
( |
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Increase/(decrease) in trade creditors |
|
( |
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|
Net cash flow from operating activities |
|
|
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Cash flows from investing activities |
|||
|
Interest received |
|
|
|
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Acquisition of subsidiaries |
( |
- |
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
|
|
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Payments to finance lease creditors |
( |
( |
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Net cash flows from financing activities |
( |
( |
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Net decrease in cash and cash equivalents |
( |
( |
|
|
Cash and cash equivalents at 1 January |
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|
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Cash and cash equivalents at 31 December |
121,996 |
328,219 |
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Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements and key sources of estimation uncertainty
In preparing these financial statements, the Directors are required to make judgements, estimates and assumptions which will impact on the application of accounting policies. These judgements, estimates and assumptions will also affect the amounts reported in respect of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Management estimates and assumptions are continually reviewed and any variances are adjusted in the profit and loss account as and when more accurate information is obtained.
Judgements that management have made in applying the company's accounting policies and which could have the most significant impact on the financial statements relate to the following:
Accruals
Depreciation
Stock provision.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Foreign currency transactions and balances
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold buildings |
2% straight line |
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Freehold land |
Not depreciated |
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Leasehold property improvements |
15 years straight line |
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Plant and machinery |
10% to 33% straight line |
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Motor vehicles |
25% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Related parties
The company has applied the exemption under FRS 102 section 33.1A and does not disclose transactions with members of the same group that are wholly owned.
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Revenue |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2024 |
2023 |
|
|
Sale of goods |
|
|
The analysis of the company's turnover for the year by market is as follows:
|
2024 |
2023 |
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UK |
|
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Rest of world |
|
|
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|
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|
Operating (loss)/profit |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
|
Operating lease expense - other |
|
|
|
Loss/(profit) on disposal of property, plant and equipment |
|
( |
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Other interest receivable and similar income |
|
2024 |
2023 |
|
|
Interest income on bank deposits |
|
|
|
Foreign currency gains |
- |
|
|
|
|
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Interest payable and similar expenses |
|
2024 |
2023 |
|
|
Interest expense on other finance liabilities |
|
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Foreign exchange losses |
|
- |
|
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|
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2024 |
2023 |
|
|
Wages and salaries |
|
|
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Social security costs |
|
|
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Other short-term employee benefits |
|
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Pension costs, defined contribution scheme |
|
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Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2024 |
2023 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
Other departments |
|
|
|
|
|
|
Auditors' remuneration |
|
2024 |
2023 |
|
|
Audit of the financial statements |
|
|
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2024 |
2023 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Arising from changes in tax rates and laws |
- |
( |
|
Total deferred taxation |
( |
( |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2024 |
2023 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Tax decrease from effect of capital allowances and depreciation |
- |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Tax increase from effect of unrelieved tax losses carried forward |
|
- |
|
Deferred tax credit from unrecognised temporary difference from a prior period |
- |
( |
|
Deferred tax credit relating to changes in tax rates or laws |
- |
( |
|
Total tax credit |
( |
( |
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Deferred tax
Deferred tax assets and liabilities
|
2024 |
Asset |
Liability |
|
Accelerated tax depreciation |
- |
|
|
Losses carried forward |
|
- |
|
Pension accrual |
|
- |
|
|
|
|
2023 |
Asset |
Liability |
|
Accelerated tax depreciation |
- |
|
|
Losses carried forward |
|
- |
|
Pension accrual |
|
- |
|
|
|
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Additions |
|
|
- |
|
|
Disposals |
- |
( |
- |
( |
|
At 31 December 2024 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Charge for the year |
|
|
- |
|
|
Eliminated on disposal |
- |
( |
- |
( |
|
At 31 December 2024 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2024 |
|
|
- |
|
|
At 31 December 2023 |
|
|
- |
|
Land and buildings includes freehold land with a cost of £527,569 (2023 - £527,569) that is not depreciated.
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Investments in subsidiaries, joint ventures and associates |
|
2024 |
2023 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2024 |
|
|
Additions |
|
|
At 31 December 2024 |
|
|
Provision |
|
|
At 1 January 2024 |
|
|
At 31 December 2024 |
|
|
Carrying amount |
|
|
At 31 December 2024 |
|
|
At 31 December 2023 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2024 |
2023 |
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Subsidiary undertakings |
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|
Hortonwood 35
England and Wales |
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Poland |
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Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Subsidiary undertakings |
|
William Beckett Plastics Limited The principal activity of William Beckett Plastics Limited is |
|
Mocap SP.ZO.O. The principal activity of Mocap SP.ZO.O. is |
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Stocks |
|
2024 |
2023 |
|
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Finished goods and goods for resale |
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|
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Debtors |
|
Current |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
- |
|
|
Other debtors |
|
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Prepayments |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
2024 |
2023 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Creditors |
|
Note |
2024 |
2023 |
|
|
Due within one year |
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Loans and borrowings |
|
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Trade creditors |
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Amounts due to related parties |
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Other payables |
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Accruals |
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Due after one year |
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Loans and borrowings |
|
|
|
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Other non-current financial liabilities |
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Deferred tax and other provisions |
|
Deferred tax |
Total |
|
|
At 1 January 2024 |
|
|
|
Deferred tax charged to the P&L account |
(92,940) |
(92,940) |
|
At 31 December 2024 |
- |
- |
|
|
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|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,000 |
|
1,000 |
|
|
|
110,002 |
|
110,002 |
|
|
|
|
|
|
|
Loans and borrowings |
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
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Hire purchase contracts |
|
|
|
|
|
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Current loans and borrowings
|
2024 |
2023 |
|
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Bank borrowings |
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Hire purchase contracts |
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The bank borrowings relates to two loans drawn down during the year.
The first bank loan balance of £282,500 is repayable by quarterly instalments, at an interest rate of 3.94%.
The loan is secured against a first Legal Charge over Plot 11, Hortonwood 35, Telford, Shropshire and a floating charge over the company's assets.
The second bank loan balance of £174,000 is through the CBIL government support scheme and is repayable by quarterly instalments.
Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
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Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
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Commitments |
Capital commitments
The total amount contracted for but not provided in the financial statements was £
|
Analysis of changes in net debt |
|
At 1 January 2024 |
Financing cash flows |
Other non-cash changes |
At 31 December 2024 |
|
|
Cash and cash equivalents |
||||
|
Cash |
328,219 |
(206,223) |
- |
121,996 |
|
Borrowings |
||||
|
Long term borrowings |
(456,500) |
- |
321,000 |
(135,500) |
|
Short term borrowings |
(321,000) |
321,000 |
(321,000) |
(321,000) |
|
Lease liabilities |
(130,565) |
36,540 |
- |
(94,025) |
|
(908,065) |
357,540 |
- |
(550,525) |
|
|
( |
|
- |
( |
|
|
|
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Mocap Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Parent and ultimate parent undertaking |
The company's immediate parent is