REGISTERED NUMBER: 03371599 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Molsom & Associates Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

10

Director:

A K Molsom

Registered office:

5 Hall Place

Spalding

Lincolnshire

PE11 1SA

Registered number:

03371599 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Molsom & Associates Limited for the year ended 31 May 2025 which comprise the Statement of income and retained earnings, Statement of financial position and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Molsom & Associates Limited in accordance with the terms of our engagement letter dated 26 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Molsom & Associates Limited and state those matters that we have agreed to state to the director of Molsom & Associates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Molsom & Associates Limited and its director for our work or for this report.

It is your duty to ensure that Molsom & Associates 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 Molsom & Associates Limited. You consider that Molsom & Associates 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 Molsom & Associates 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.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

18 November 2025

Fixed assets

Intangible assets

5

1,758

1,841

Tangible assets

6

67,721

60,586

69,479

62,427

Current assets

Stocks

55,023

60,088

Debtors

7

22,449

26,287

Cash at bank and in hand

160,924

153,400

238,396

239,775

Creditors

Amounts falling due within one year

8

110,899

106,328

Net current assets

127,497

133,447

Total assets less current liabilities

196,976

195,874

Creditors

Amounts falling due after more than one year

9

(35,871

)

(24,065

)

Provisions for liabilities

(16,148

)

(14,193

)

Net assets

144,957

157,616

Capital and reserves

Called up share capital

12

10

10

Retained earnings

144,947

157,606

Shareholders' funds

144,957

157,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2025 and were signed by:

A K Molsom - Director

1.	Statutory information

Molsom & Associates 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 Pound Sterling (£).

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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

Revenue recognition

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill

- 10 years straight line

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

Intangible assets

Other intangible assets are trademarks which are capitalised by the company and reviewed annually for impairment.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Registered trademarks

- 4% straight line

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

Tangible fixed assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Plant and machinery

- 20% straight line

Fixtures and fittings

- 25% reducing balance or 20% straight line

Motor vehicles

- 25% reducing balance

Computer equipment

- 25% reducing balance or 33.3% straight line

Impairment of fixed assets

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.

For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities.

Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

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 as a finance cost in profit or loss in the period it arises.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to the Profit and Loss Account by equal annual instalments over the expected useful lives of the relevant assets.

4.	Employees and directors

The average number of employees during the year was 15 (2024 - 16 ) .

5.	Intangible fixed assets

Registered

Goodwill

trademarks

Totals

£

£

£

Cost

At 1 June 2024

and 31 May 2025

250,000

2,093

252,093

Amortisation

At 1 June 2024

250,000

252

250,252

Amortisation for year

-

83

83

At 31 May 2025

250,000

335

250,335

Net book value

At 31 May 2025

-

1,758

1,758

At 31 May 2024

-

1,841

1,841

6.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 June 2024

108,219

103,849

48,609

18,411

279,088

Additions

26,995

404

-

3,961

31,360

Disposals

(31,400

)

-

-

(1,792

)

(33,192

)

At 31 May 2025

103,814

104,253

48,609

20,580

277,256

Depreciation

At 1 June 2024

72,068

102,370

33,229

10,835

218,502

Charge for year

16,333

471

3,845

2,663

23,312

Eliminated on disposal

(31,400

)

-

-

(879

)

(32,279

)

At 31 May 2025

57,001

102,841

37,074

12,619

209,535

Net book value

At 31 May 2025

46,813

1,412

11,535

7,961

67,721

At 31 May 2024

36,151

1,479

15,380

7,576

60,586

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

9,397

5,651

Directors' current accounts

2,577

820

VAT

-

11,541

Prepayments

10,475

8,275

22,449

26,287

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

46,512

45,184

Corporation tax

15,844

17,656

Social security and other taxes

2,293

2,437

VAT

6,393

-

Other creditors

18,607

21,525

Hire purchase contracts

14,284

7,805

Accruals and deferred income

6,966

11,721

110,899

106,328

9.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Hire purchase contracts

35,871

24,065

10.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

5,300

27,000

Between one and five years

1,017

2,250

6,317

29,250

11.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

50,155

31,870

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10

Ordinary

£1

10

10

13.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2025 and 31 May 2024:

2025

2024

£

£

A K Molsom

Balance outstanding at start of year

820

76,896

Amounts advanced

90,730

69,310

Amounts repaid

(88,973

)

(145,386

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,577

820