REGISTERED NUMBER: 07917756 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MALONE GROUP GB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Malone

S J Mason

P A Clulow

REGISTERED OFFICE:

Skyline Court Third Avenue

Centrum One Hundred

Burton-on-Trent

DE14 2BZ

REGISTERED NUMBER:

07917756 (England and Wales)

AUDITORS:

Magma Audit LLP

Chartered Accountants

Statutory Auditor

Magma House, 16 Davy Court

Castle Mound Way

Rugby

CV23 0UZ

FIXED ASSETS

Intangible assets

4

113,704

18,196

Tangible assets

5

128,981

159,744

242,685

177,940

CURRENT ASSETS

Debtors

6

1,944,249

2,376,138

Cash at bank

206,387

25,844

2,150,636

2,401,982

CREDITORS

Amounts falling due within one year

7

(1,335,520

)

(1,787,795

)

NET CURRENT ASSETS

815,116

614,187

TOTAL ASSETS LESS CURRENT LIABILITIES

1,057,801

792,127

CREDITORS

Amounts falling due after more than one year

8

(76,827

)

(107,255

)

NET ASSETS

980,974

684,872

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

980,874

684,772

980,974

684,872

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 Profit and loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

S Malone - Director

1.	STATUTORY INFORMATION

Malone Group GB Limited is a limited company, registered in England and Wales. Its registered office address is Skyline Court Third Avenue, Centrum One Hundred, Burton-On-Trent, England, DE14 2BZ and the registered number is 07917756.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The presentational currency of the financial statements is Sterling (£) and figures are rounded to the nearest £1.

Turnover

Turnover is measured at 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:

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 company 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costs less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount fo the asset is determined which is the higher of its fair value less costs to sell and is value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Computer software is being amortised over their useful life of 10 years.

Amortisation is not yet charged on the development costs.

Tangible fixed assets

Tangible fixed assets 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, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings

-

20%

straight line

Motor vehicles

-

25%

on reducing balance

Computer equipment

-

33%

straight line

Plant and machinery

-

10-20%

on reducing balance

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.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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 payments discounted at a market rate of interest.

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

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit and loss account except for when 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Operating and finance lease commitments

At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

(i) Finance leased assets

Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the company's incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

(ii) Operating leased assets

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Invoice discounting

The gross amount of invoice discounted debts are included in trade debtors and a corresponding liability in respect of proceeds received from factors are shown within current liabilities. Factoring charges and interest are recognised in the profit and loss account as they accrue.

Share capital

Ordinary shares are classified as equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 49 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Computer

costs

software

Totals

£

£

£

COST

At 1 January 2024

-

20,713

20,713

Additions

97,328

-

97,328

At 31 December 2024

97,328

20,713

118,041

AMORTISATION

At 1 January 2024

-

2,517

2,517

Amortisation for year

-

1,820

1,820

At 31 December 2024

-

4,337

4,337

NET BOOK VALUE

At 31 December 2024

97,328

16,376

113,704

At 31 December 2023

-

18,196

18,196

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

64,114

37,484

140,940

60,857

303,395

Additions

-

-

72,805

26,824

99,629

Disposals

-

-

(133,506

)

-

(133,506

)

At 31 December 2024

64,114

37,484

80,239

87,681

269,518

DEPRECIATION

At 1 January 2024

25,278

31,052

55,456

31,865

143,651

Charge for year

7,767

4,188

19,885

21,620

53,460

Eliminated on disposal

-

-

(56,574

)

-

(56,574

)

At 31 December 2024

33,045

35,240

18,767

53,485

140,537

NET BOOK VALUE

At 31 December 2024

31,069

2,244

61,472

34,196

128,981

At 31 December 2023

38,836

6,432

85,484

28,992

159,744

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,583,892

1,960,728

Amounts owed by group undertakings

170,935

232,783

Other debtors

-

927

Prepayments and accrued income

189,422

181,700

1,944,249

2,376,138

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

40,000

40,000

Hire purchase contracts (see note 9)

213

213

Trade creditors

141,706

67,634

Amounts owed to group undertakings

200,656

563,407

Tax

105,965

73,217

Social security and other taxes

68,773

86,569

VAT

106,177

154,067

Other creditors

362,434

691,854

Accrued expenses

309,596

110,834

1,335,520

1,787,795

Within other creditors is a balance of £345,829 (2023: £671,503) relating to an invoice discounting facility incorporating a charge over book debts in the company, and a balance of £12,327 (2023: £9,475) relating to pensions due.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

40,000

40,000

Bank loans - 2-5 years

36,827

67,255

76,827

107,255

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

213

213

Non-cancellable

operating leases

2024

2023

£

£

Within one year

50,600

57,347

Between one and five years

-

50,600

50,600

107,947

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

116,827

147,255

Hire purchase contracts

213

213

Invoice discounting creditor

345,829

671,503

462,869

818,971

Hire purchase debts are secured on the assets to which they relate.

The bank loan is secured through a first-ranking debenture incorporating a fixed and floating charge over all assets. A guarantee on the full loan balance has been provided by Malone Engineering Group Limited.

The invoice discounting creditor is secured incorporating a fixed and floating charge over the book debts in the company.

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

The Report of the Auditors was unqualified.

Victoria Craig (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

S Malone is considered the ultimate controlling party by virtue of his majority shareholding in the ultimate and immediate parent company, Malone Engineering Group Ltd a private company registered in Ireland.