Madison Enterprises Limited 31/12/2024 iXBRL

Company registration number: 10097169

Madison Enterprises Limited

Unaudited filleted financial statements

31 December 2024

Madison Enterprises Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Madison Enterprises Limited

Directors and other information


	Directors	Mr Paul Austin
		Mr Eamonn Dunne
		Mr Graham Eyles
		Mr Christopher Mckie


	Company number	10097169


	Registered office	Railex Business Centre
		Crossens Way
		Marine Drive
		Southport
		Merseyside


	Business address	Wellington House
		The Embankment
		Wellingborough
		NN8 1LD


	Accountants	Forshaws Accountants Limited
		Crossens Way Business Park
		Crossens Way
		Southport
		Merseyside
		PR9 9LY

Madison Enterprises Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Madison Enterprises Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Madison Enterprises Limited for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Madison Enterprises Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Madison Enterprises Limited and state those matters that we have agreed to state to the board of directors of Madison Enterprises Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Madison Enterprises Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Madison Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Madison Enterprises Limited. You consider that Madison Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Madison Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Forshaws Accountants Limited

Chartered Accountants

Crossens Way Business Park

Crossens Way

Southport

Merseyside

PR9 9LY

25 September 2025

Madison Enterprises Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	2,840,000		2,700,000
Investments	6	10,168,710		10,168,710
		_______		_______
			13,008,710		12,868,710

Current assets
Debtors	7	1,298,254		457,971
Cash at bank and in hand		154,355		52,153
		_______		_______
		1,452,609		510,124
Creditors: amounts falling due
within one year	8	( 8,458,718)		( 9,159,446)
		_______		_______
Net current liabilities			( 7,006,109)		( 8,649,322)
			_______		_______
Total assets less current liabilities			6,002,601		4,219,388


Provisions for liabilities	9		( 308,420)		( 273,420)

			_______		_______
Net assets			5,694,181		3,945,968
			_______		_______

Capital and reserves
Called up share capital	11		400		416
Revaluation reserve			925,261		820,261
Capital redemption reserve			50		34
Profit and loss account			4,768,470		3,125,257
			_______		_______
Shareholders funds			5,694,181		3,945,968
			_______		_______

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr Graham Eyles

Director

Company registration number: 10097169

Madison Enterprises Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The principal activity of the company is that of an investment holding company.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	Stated at fair market value

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Consolidation

The company is entitled to the exemption under Section 398 of Companies Act 2006 from the obligation to prepare group accounts.

5. Tangible assets

	Freehold property	Total
	£	£
Cost or valuation
At 1 January 2024	2,700,000	2,700,000
Revaluation	140,000	140,000
	_______	_______
At 31 December 2024	2,840,000	2,840,000
	_______	_______
Depreciation
At 1 January 2024 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	2,840,000	2,840,000
	_______	_______
At 31 December 2023	2,700,000	2,700,000
	_______	_______

Investment property

In accordance with the Triennial Review 2017 amendments, investment property has been remeasured at fair market value.At the balance sheet date, the Directors, supported by reported valuations from Vail Williams and Colliers, have valued the freehold properties and consider them to be valued at fair market value.The external valuations were in accordance with the requirement of the RICS Valuation Standards and the International Valuation Standards.Fair value adjustments, and any deferred tax liability thereon, have been charged to other comprehensive income as gains arising on the increase in value of investment property that have not yet been realised.

6. Investments

	Shares in group undertakings and participating interests	Total

	£	£
Cost
At 1 January 2024 and 31 December 2024	10,168,710	10,168,710
	_______	_______
Impairment
At 1 January 2024 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	10,168,710	10,168,710
	_______	_______
At 31 December 2023	10,168,710	10,168,710
	_______	_______

Investments in group undertakings

Subsidiary undertakings	Registered office	Class of share	Percentage of shares held
Autoflow Limited	Wellington House, The Embankment, Wellingborough, NN8 1LD	Ordinary	100

7. Debtors

	2024	2023
	£	£
Other debtors	1,298,254	457,971
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	4,020	-
Social security and other taxes	190,640	624,566
Other creditors	8,264,058	8,534,880
	_______	_______
	8,458,718	9,159,446
	_______	_______

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1 January 2024	273,420	273,420
Additions	35,000	35,000
	_______	_______
At 31 December 2024	308,420	308,420
	_______	_______

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 9)	308,420	273,420
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Fair value adjustment of investment property	308,420	273,420
	_______	_______

11. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£
Ordinary shares of £ 1.00 each	400	400	416	416
	_______	_______	_______	_______

12. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Paul Austin	53,447	1,203	( 54,650)	-
	Mr Graham Eyles	53,447	1,203	( 54,650)	-
		_______	_______	_______	_______
		106,894	2,406	( 109,300)	-
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Paul Austin	( 1,246)	54,693	-	53,447
	Mr Graham Eyles	( 1,246)	54,693	-	53,447
		_______	_______	_______	_______
		( 2,492)	109,386	-	106,894
		_______	_______	_______	_______

Amounts due from Directors were unsecured, repayable on demand and subject to interest at HMRC's official rates.

13. Related party transactions

In line with the requirements of FRS102, the Company has not disclosed transactions with companies that are wholly owned within the Group of companies headed by Madison Enterprises Limited .The Company made sales of £1,260,000 (2023: £1,260,000) to a company under the common control of the Directors. At the balance sheet date, £4,862,659 (2023: £5,240,599) remained outstanding and is presented within other creditors. This balance is, in substance, deferred income for data transmission services. This balance is unsecured, interest free and repayable on demand. The Company also charged rent of £262,500 (2023: £262,500) to the same company. No balance remained outstanding in respect of rent receivable.At the balance sheet date, other creditors included £218,144 (2023: £108,844) due to another company under the common control of the Directors. This balance is unsecured, interest free and repayable on demand.At the balance sheet date, other creditors included £2,492 (2023: £2,492) due to the Directors and Shareholders not listed in Note 14. These amounts are unsecured, interest free and repayable on demand.

14. Controlling party

The company is not under the control of any one individual.