Moyallen Holdings Limited

	Page
Company Information	1
Strategic Report	2
Directors' Report	3—4
Independent Auditor's Report	5—7
Consolidated Profit and Loss Account	8
Consolidated Statement of Comprehensive Income	9
Consolidated Balance Sheet	10
Company Balance Sheet	11
Consolidated Statement of Changes in Equity	12
Company Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14
Notes to the Consolidated Statement of Cash Flows	15
Notes to the Financial Statements	16—22

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Strategic Report

For The Year Ended 31 December 2024

Strategic Report

The directors present their strategic report for the year ended 31 December 2024.

Review of the Business

The group turnover has decreased from the previous year by 0.96%, with gross profit margains also decreasing to 29.15% (2023: 39.5%). The directors, while accepting of this performance, are working hard to deliver efficiencies and improve productivity of the group.

The group has prepared cashflow forecasts for the next 12 months which supports the ability of the group and each individual company to continue as a going concern. Accordingly, the group continues to adopt the going concern basis in the financial accounts.

Principal Risks and Uncertainties

There are certain risk factors which could affect the group's future results and cause them to be materially different from expected results. The factors considered should not be considered as a complete and comprehensive statement of all risks and uncertainties.

Interest cover

The group reviews its current and forecast projections of cashflow to ensure it operates within set parameters.

Operational risk

Adverse macroeconomic conditions and a deterioration in the economic environment may lead to customers being unable to pay amounts due and other outgoings and may even result in their business failure. If these events were to occur, it could have a material effect on the results of operations.

Credit risk

The amounts presented in the balance sheet are net of allowances for doubtful debts estimated by the directors based on prior experience and their assessment of the current economic environment.

On behalf of the board

Mr John Robinson

Director

30/09/2025

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Moyallen Holdings Limited

Company No. NI065251

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal Activity

The principal activity of the group in the year under review was that of a holding company. The nature of the group companies' operations and principal activities are property development and provision of rental accommodation and cold storage.

Political Donations and Expenditure

The company did not make any disclosable political donations in the current financial year.

Directors

The directors who held office during the year were as follows:

Mr Peter Robinson

Mr John Robinson

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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 the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
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 and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

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Moyallen Holdings Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

Independent Auditors

The auditors, WHR Accountants Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr John Robinson

Director

30/09/2025

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Independent Auditor's Report

to the Members of

Moyallen Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Moyallen Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 December 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2024 and of the group's profit/(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's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 directors' 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 group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Moyallen Holdings Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or 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 Directors' Responsibilities Statement set out on page 3—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 group and parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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.

Irregularities, including fraud, and instances of non-compliance with laws and regulations. We design procedures in line with our responsbilities, outline aboved, to detect material misstatements in resepect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-the Company's own assessment of the risk that irregularities may occur either as a result of fraud or error;

-the results of our enquiries of management about their own identification and assessment of the risks of irregularities;

-any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

-the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

In addition to the above, our procedures to respond to risks identified included the following:

-reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-enquiring of management, directors concerning actual and potential litigation and claims;

-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-reading minutes of meeting of directors, reviewing internal audit reports and reviewing correspondence with HMRC; and

-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

-assessing whether the judgements made 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.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment,forgery,collusion,omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Moyallen Holdings 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 that 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.

James Robinson (Senior Statutory Auditor)

for and on behalf of WHR Accountants Ltd , Statutory Auditor

30/09/2025

WHR Accountants Ltd

Chartered Certified Accountants

Statutory Auditors

56 Upper English Street

County Armagh

BT61 7LG

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Moyallen Holdings Limited

Consolidated Profit and Loss Account

For The Year Ended 31 December 2024

Consolidated Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER	3	6,989,064	7,057,103
Cost of sales		(4,951,933 )	(4,271,906 )

GROSS PROFIT		2,037,131	2,785,197

Administrative expenses		(2,072,406 )	(2,154,308 )
Other operating income		152,172	2,413

OPERATING PROFIT	5	116,897	633,302
Loss on disposal of fixed assets		(260 )	(77,518 )
Profit on disposal of fixed asset investments		15,600	-
Other interest receivable and similar income		24,523	7,468
Interest payable and similar charges	10	(16,233 )	(17,921 )

PROFIT BEFORE TAXATION		140,527	545,331
Tax on Profit	11	(46,156 )	(108,605 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		94,371	436,726

The notes on pages 15 to 22 form part of these financial statements.

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Moyallen Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 December 2024

Consolidated Statement of Comprehensive Income

	2024	2023
	£	£
PROFIT FOR THE FINANCIAL YEAR	94,371	436,726
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT	94,371	436,726

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Moyallen Holdings Limited

Consolidated Balance Sheet

As At 31 December 2024

Consolidated Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		2,648,017		2,648,515

			2,648,017		2,648,515
CURRENT ASSETS
Debtors	14	1,797,131		1,952,776
Cash at bank and in hand		2,582,195		2,942,281

		4,379,326		4,895,057
Creditors: Amounts Falling Due Within One Year	15	(1,543,843 )		(2,192,211 )

NET CURRENT ASSETS (LIABILITIES)			2,835,483		2,702,846

TOTAL ASSETS LESS CURRENT LIABILITIES			5,483,500		5,351,361

Creditors: Amounts Falling Due After More Than One Year	16		(209,923 )		(172,155 )

NET ASSETS			5,273,577		5,179,206

CAPITAL AND RESERVES
Called up share capital	19		22,500		22,500
Profit and Loss Account			5,251,077		5,156,706

SHAREHOLDERS' FUNDS			5,273,577		5,179,206

On behalf of the board

Mr John Robinson

Director

30/09/2025

The notes on pages 15 to 22 form part of these financial statements.

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Moyallen Holdings Limited

Company Balance Sheet

As At 31 December 2024

Company Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	13		22,502		22,502

			22,502		22,502
CURRENT ASSETS
Debtors	14	15,600		-

		15,600		-
Creditors: Amounts Falling Due Within One Year	15	(2 )		(2 )

NET CURRENT ASSETS (LIABILITIES)			15,598		(2 )

TOTAL ASSETS LESS CURRENT LIABILITIES			38,100		22,500

NET ASSETS			38,100		22,500

CAPITAL AND RESERVES
Called up share capital	19		22,500		22,500
Profit and Loss Account			15,600		-

SHAREHOLDERS' FUNDS			38,100		22,500

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 15,600 (2023: £ profit/(loss)).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr John Robinson

Director

30/09/2025

The notes on pages 15 to 22 form part of these financial statements.

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Moyallen Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2024

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	22,500	4,719,980	4,742,480
Profit for the year and total comprehensive income	-	436,726	436,726

As at 31 December 2023 and 1 January 2024	22,500	5,156,706	5,179,206


Profit for the year and total comprehensive income	-	94,371	94,371

As at 31 December 2024	22,500	5,251,077	5,273,577

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Moyallen Holdings Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2024

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	22,500	-	22,500

As at 31 December 2023 and 1 January 2024	22,500	-	22,500


Profit for the year and total comprehensive income	-	15,600	15,600

As at 31 December 2024	22,500	15,600	38,100

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Moyallen Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 December 2024

Consolidated Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	142,098	778,929
Interest paid		(16,233 )	(17,921 )
Tax paid		(84,142 )	-

Net cash generated from operating activities		41,723	761,008

Cash flows from investing activities
Purchase of tangible assets		(510,067 )	(458,028 )
Proceeds from disposal of tangible assets		42	4,751
Proceeds from disposal of other fixed asset investments		15,600	-
Grants received		2,172	2,413
Interest received		24,523	7,468

Net cash used in investing activities		(467,730 )	(443,396 )

Cash flows from financing activities
Repayment of finance leases		65,921	103,161
Amount withdrawn by directors		-	(97,865)

Net cash generated from financing activities		65,921	5,296



(Decrease)/increase in cash and cash equivalents		(360,086 )	322,908
Cash and cash equivalents at beginning of year	2	2,942,281	2,619,373

Cash and cash equivalents at end of year	2	2,582,195	2,942,281

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Moyallen Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	£	£
Profit for the financial year	94,371	436,726
Adjustments for:
Tax on profit	46,156	108,605
Interest expense	16,233	17,921
Interest income	(24,523 )	(7,468 )
Depreciation of tangible assets	510,263	521,772
Loss on disposal of tangible assets	260	77,518
Profit on disposal of fixed asset investments	(15,600)	-
Grant income	(2,172)	(2,413)
Movements in working capital:
Decrease in trade and other debtors	155,645	134,608
Decrease in trade and other creditors	(638,535 )	(508,340 )

Net cash generated from operations	142,098	778,929

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	2,582,195	2,942,281

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	2,942,281	(360,086)	2,582,195
Finance leases	(266,710)	(65,921)	(332,631)

	2,675,571	(426,007)	2,249,564

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Moyallen Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Moyallen Holdings Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI065251 . The registered office is Unit 4 Granville Industrial Estate, Dungannon, County Tyrone, BT70 1NJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Basis Of Consolidation

The consolidated financial statements incorporate the financial statements of the company and entities that continue to be controlled by the group. On acquisition of a subsidiary, its identifiable assets, liabilities and contingent liabilities are included in the consolidated accounts at their fair value. Any excess of the cost of an acquisition over fair value of net assets acquired is recognised as goodwill. The results of subsidiaries acquired are included in the consolidated profit and loss account from the date control passes up until the group ceased to control them through a sale or significant change in circumstances. All intra-group balances, transactions, income and expenses are eliminated on consolidation. The consolidated accounts are prepared using uniform accounting policies.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% straight line
Plant & Machinery	10% reducing balance / 3-10 years straight line
Motor Vehicles	25% straight line
Fixtures & Fittings	15% reducing balance / 3-7 years straight line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Moyallen Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. 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.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instrument regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Moyallen Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.10. Going concern

The directors have considered future projections and future cashflows for at least 12 months from the date of the accounts and are confident that the group will continue to trade for the foreseeable future. The group's directors have obtained the ongoing support of its bankers and accordingly the company's directors consider it appropriate that the accounts be prepared on a going concern basis.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2024	2023
	£	£
United Kingdom	6,870,582	6,770,111
Europe	118,482	286,992

	6,989,064	7,057,103

4. Other Operating Income

	2024	2023
	£	£
Grant income	2,172	2,413
Other operating income	150,000	-

	152,172	2,413

5. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Depreciation of tangible fixed assets	510,263	521,772

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	7,753	7,350

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Moyallen Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	2,820,455	2,241,792
Social security costs	269,143	236,459
Other pension costs	60,792	207,992

	3,150,390	2,686,243

8. Average Number of Employees

Group

Average number of employees, including directors, during the year was as follows:

	2024	2023
Office and administration	18	16
Manufacturing	60	55

	78	71

Company

Average number of employees, including directors, during the year was: NIL (2023: NIL)

9. Directors' remuneration

	2024	2023
	£	£
Emoluments	300,000	300,000
Company contributions to money purchase pension schemes	-	150,000

	300,000	450,000

Information regarding the highest paid director was as follows:

	2024	2023
	£	£
Emoluments	100,000	-

10. Interest Payable and Similar Charges

	2024	2023
	£	£
Finance charges payable under finance leases and hire purchase contracts	13,564	12,580
Late payment tax charges	1,385	-
Other finance charges	1,284	5,341

	16,233	17,921

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Moyallen Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	24.9%	23.5%	46,156	108,605


Total tax charge for the period			46,156	108,605


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			140,527	545,331

Tax on profit at 24.9% (UK standard rate)			35,023	128,262
Expenses not deductible for tax purposes			47	3,453
Tax losses utilised			-	(38,289 )
Capital allowances			14,974	15,179
Revenue exempt from taxation			(3,888 )	-

Total tax charge for the period			46,156	108,605

12. Tangible Assets

Group

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	401,568	9,780,715	206,660	637,335	11,026,278
Additions	125,371	364,502	-	20,194	510,067
Disposals	-	(84,140 )	-	(25,810 )	(109,950 )

As at 31 December 2024	526,939	10,061,077	206,660	631,719	11,426,395

Depreciation
As at 1 January 2024	176,825	7,557,723	155,293	487,922	8,377,763
Provided during the period	42,845	411,384	17,784	38,250	510,263
Disposals	-	(84,140 )	-	(25,508 )	(109,648 )

As at 31 December 2024	219,670	7,884,967	173,077	500,664	8,778,378

Net Book Value
As at 31 December 2024	307,269	2,176,110	33,583	131,055	2,648,017

As at 1 January 2024	224,743	2,222,992	51,367	149,413	2,648,515

Company

The company had no tangible fixed assets as at 31 December 2024 or 31 December 2023.

Page 20

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Moyallen Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Investments

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2024	22,502

As at 31 December 2024	22,502

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	22,502

As at 1 January 2024	22,502

Subsidiaries

Details of the group's subsidiaries as at 31 December 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Moyallen Developments Limited	Northern Ireland	Ordinary	100.00%	-
Granville Food Care Limited	Northern Ireland	Ordinary	100.00%	-

14. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Due within one year
Trade debtors	1,270,161	1,299,621	-	-
Prepayments and accrued income	524,850	359,569	-	-
Other debtors	2,120	293,586	-	-
Amounts owed by group undertakings	-	-	15,600	-

	1,797,131	1,952,776	15,600	-

15. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	122,708	94,555	-	-
Trade creditors	196,687	142,976	-	-
Corporation tax	70,619	108,605	-	-
Other taxes and social security	81,925	92,853	-	-
VAT	135,667	327,797	-	-
Other creditors	58,061	372,596	-	-

...CONTINUED

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Moyallen Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Other creditors (1)	-	741,408	-	-
Accruals and deferred income	878,176	311,421	-	-
Amounts owed to group undertakings	-	-	2	2

	1,543,843	2,192,211	2	2

16. Creditors: Amounts Falling Due After More Than One Year

	Group
	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	209,923	172,155

17. Obligations Under Finance Leases and Hire Purchase

	Group
	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	122,708	94,555
Later than one year and not later than five years	209,923	172,155

	332,631	266,710

	332,631	266,710

18. Capital Grants

	Group
	2024	2023
	£	£
Balance at 1 January 2024	21,722	24,135
Increase / (Decrease) in the year	(2,172)	(2,413)

Balance at 31 December 2024	19,550	21,722

19. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
22,500 Ordinary Shares of £ 1.00 each	22,500	22,500

20. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to profit or loss in respect of defined contribution schemes was £60,792 (2023: £207,992).

21. Controlling Parties

The group continues to be under the control of Mr PAH Robinson and Mr JTA Robinson as they are both managing directors and majority shareholders.

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