REGISTERED NUMBER: 05079006 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MECHDYNE EUROPE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr C L Clover

SECRETARY:

Ms S M Goodman

REGISTERED OFFICE:

31 High Street

Haverhill

Suffolk

CB9 8AD

REGISTERED NUMBER:

05079006 (England and Wales)

AUDITORS:

Streets Audit LLP

Chartered Accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Peterborough

Cambridgeshire

PE2 6LR

FIXED ASSETS

Tangible assets

4

1,169

1,810

CURRENT ASSETS

Debtors

5

6,922,328

5,895,223

Cash at bank

3,755,486

281,786

10,677,814

6,177,009

CREDITORS

Amounts falling due within one year

6

9,925,298

5,526,473

NET CURRENT ASSETS

752,516

650,536

TOTAL ASSETS LESS CURRENT LIABILITIES

753,685

652,346

CREDITORS

Amounts falling due after more than one year

7

(43,001

)

(64,034

)

PROVISIONS FOR LIABILITIES

(292

)

(453

)

NET ASSETS

710,392

587,859

CAPITAL AND RESERVES

Called up share capital

159

159

Retained earnings

710,233

587,700

SHAREHOLDERS' FUNDS

710,392

587,859

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 director and authorised for issue on 25 September 2025 and were signed by:

Dr C L Clover - Director

1.	STATUTORY INFORMATION

Mechdyne Europe 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 US Dollar ($) as this is considered to be the functional currency.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The director has reviewed the post year end trading position of the company. Based on this review, together with continued group support confirmed by the company's parent entity for a period of not less than 12 months following signing of the financial statements, the director has concluded that the company has adequate resources and funding available to continue to trade for the foreseeable future and for a period of not less than 12 months from signing the financial statements. Accordingly the director considers it appropriate to continue to adopt the going concern basis in preparing the financial statements.

Related party exemption

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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration receive 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 company has transferred the significant risks and rewards of ownership to the buyer;

-

the company 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 company 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 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.

Tangible fixed assets

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

Computer equipment

-

20% on cost

Financial instruments

The company 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.

(i) Debtors

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

(ii) Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. 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.

(iii) Creditors

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

Transactions in foreign currencies are translated into the functional currency at the rate of exchange ruling at the date of transaction.

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

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

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.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forwards to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

$

COST

At 1 October 2023

and 30 September 2024

22,548

DEPRECIATION

At 1 October 2023

20,738

Eliminated on disposal

641

At 30 September 2024

21,379

NET BOOK VALUE

At 30 September 2024

1,169

At 30 September 2023

1,810

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade debtors

607,170

64,827

Amounts owed by group undertakings

6,313,838

5,685,791

Other debtors

1,320

144,605

6,922,328

5,895,223

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade creditors

174,621

1,764

Amounts owed to group undertakings

8,451,899

5,030,108

Taxation and social security

713,059

19,537

Other creditors

585,719

475,064

9,925,298

5,526,473

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

$

$

Other creditors

43,001

64,034

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

The Auditors' Report was unqualified.

Heather McConnell (Senior Statutory Auditor)

for and on behalf of Streets Audit LLP

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mechdyne Corporation.

The ultimate parent company is Mechdyne Corporation, a company incorporated in the United States of America. These financial statements are consolidated into the financial statements of Mechdyne Corporation. The registered office and principle place of business is 11 East Church Street, 4th Floor, Marshalltown, IA 50158, United States of America.