Mawby & King Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00332183

Mawby & King Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Mawby & King Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		1,073,861	1,079,075

Current assets

Stocks		1,014,433	1,061,990
Debtors	6	1,582,730	1,560,624
Cash at bank and in hand		889,380	6,487,545
		-------------	-------------
		3,486,543	9,110,159

Creditors: amounts falling due within one year	7	708,028		636,282
		-------------		-------------
Net current assets			2,778,515	8,473,877
			-------------	-------------
Total assets less current liabilities			3,852,376	9,552,952

Creditors: amounts falling due after more than one year	8		91,974	–

Provisions	226,325	244,335
	-------------	-------------
Net assets	3,534,077	9,308,617
	-------------	-------------

Mawby & King Limited

Statement of Financial Position (continued)

31 March 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	500,000	500,000
Profit and loss account	3,034,077	8,808,617
	-------------	-------------
Shareholders funds	3,534,077	9,308,617
	-------------	-------------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

J King	A P King
Director	Director

Company registration number: 00332183

Mawby & King Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Swan Lake Glass Works, Upperton Road, Leicester, LE2 7AY, England.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

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

Judgements and key sources of estimation uncertainty

Certain of the amounts included in the financial statements involve the use of judgement and/or estimation. These judgements and estimates are based on management's best knowledge of the relevant facts and circumstances, having regard to prior experience. but actual results may differ from the amounts included in the financial statements. Information about such judgements and estimation is contained in the accounting policies the notes to the financial statements and the key areas are summarised below: Judgements in applying accounting policies: The directors must judge whether all of the conditions required for revenues to be recognised in the income statement of the financial year, have been met; Sources of estimation uncertainty: Depreciation rates are based on estimates of the useful lives and residual values of the assets involved; Slow moving stock provisions are based on estimates of the likely recoverable amounts.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Turnover is derived from the company's principal activity as a glass processor and is recognised on despatch of goods.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 pay or recover 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 material 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible 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.

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	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	15% - 33% reducing balance
Motor vehicles	-	25% reducing balance

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 38 (2024: 44 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	144,653	3,866,387	304,981	372,453	4,688,474
Additions	–	177,718	–	61,290	239,008
Disposals	–	( 205,000)	–	( 72,130)	( 277,130)
	----------	-------------	----------	----------	-------------
At 31 March 2025	144,653	3,839,105	304,981	361,613	4,650,352
	----------	-------------	----------	----------	-------------
Depreciation
At 1 April 2024	61,309	3,028,232	290,895	228,963	3,609,399
Charge for the year	2,893	137,679	3,541	47,512	191,625
Disposals	–	( 157,903)	–	( 66,630)	( 224,533)
	----------	-------------	----------	----------	-------------
At 31 March 2025	64,202	3,008,008	294,436	209,845	3,576,491
	----------	-------------	----------	----------	-------------
Carrying amount
At 31 March 2025	80,451	831,097	10,545	151,768	1,073,861
	----------	-------------	----------	----------	-------------
At 31 March 2024	83,344	838,155	14,086	143,490	1,079,075
	----------	-------------	----------	----------	-------------

6. Debtors

	2025	2024
	£	£
Trade debtors	797,207	787,270
Amounts owed by group undertakings and undertakings in which the company has a participating interest	676,002	526,002
Other debtors	109,521	247,352
	-------------	-------------
	1,582,730	1,560,624
	-------------	-------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	418,360	318,922
Social security and other taxes	210,889	233,834
Other creditors	78,779	83,526
	----------	----------
	708,028	636,282
	----------	----------

Other creditors include HP Liabilities which are secured on the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	91,974	–
	---------	----

Other creditors include HP Liabilities which are secured on the assets to which they relate.

9. Controlling party

The ultimate parent company is Source Circle Ventures Limited which is incorporated in England. Source Circle Ventures Limited is controlled by Mr A P King and Miss J A King.