Company Registration Number: 00836166
AUDITED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS
31 MARCH 2025
MOWDEN CONTROLS LIMITED
COMPANY INFORMATION
MOWDEN CONTROLS LIMITED
CONTENTS
MOWDEN CONTROLS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The principal activities of the company during the year were the development, design, manufacture and sale of bespoke electronic equipment.
The immediate trading environment post the COVID-19 pandemic led to strong demand and a focus on fulfilling that demand in 2022/23 and 2023/24. As macro factors impacted global markets so demand slowed in 2024/25, ultimately reducing volumes. The company has put great effort into new business generation and this is expected to bear fruit in 2025-6 and ought to coincide with a revival in demand generally as stock levels normalise.
Competitive risks
The company operates in an open market environment. The company’s customers select suppliers based on a combination of factors including price, delivery, quality, and reputation. The company has mitigated these risks wherever possible, by entering into long term understandings with key partner accounts. The company monitors key performance indicators including on-time delivery, defects and conversion ratios to monitor its competitive position.
Credit risks
The company’s principal financial assets are the fixed assets employed in the business which are wholly owned, bank balances, stock and work in progress and trade receivables. Of these, only trade receivables are subject to credit risk and the company evaluates trade debtors with reference to credit reference agencies when allowing lines of credit. Payment to terms is monitored as a key performance indicator.
Liquidity risks
The company keeps large financial reserves, principally in order to allow it to make investments in plant as required and/or to allow it to take advantage of acquisition opportunities as they arise without the need to resort to shareholders for financial support. There is thus little risk that spikes in sales orders will give rise to liquidity issues.
The company operates in an open market environment. The company’s customers select suppliers based on a combination of factors including price, delivery, quality, and reputation. The company has mitigated these risks wherever possible, by entering into long term understandings with key partner accounts. The company monitors key performance indicators including on-time delivery, defects and conversion ratios to monitor its competitive position.
Credit risks
The company’s principal financial assets are the fixed assets employed in the business which are wholly owned, bank balances, stock and work in progress and trade receivables. Of these, only trade receivables are subject to credit risk and the company evaluates trade debtors with reference to credit reference agencies when allowing lines of credit. Payment to terms is monitored as a key performance indicator.
Liquidity risks
The company keeps large financial reserves, principally in order to allow it to make investments in plant as required and/or to allow it to take advantage of acquisition opportunities as they arise without the need to resort to shareholders for financial support. There is thus little risk that spikes in sales orders will give rise to liquidity issues.
This report was approved by the board and signed on its behalf.
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MOWDEN CONTROLS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to 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 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 and other information included in Directors' Reports may differ from legislation in other jurisdictions.
The profit for the year, after taxation, amounted to £56,850 (2024 - £877,419).
Dividends of £Nil have been paid in the year (2024: £300,000).
The directors who served during the year were:
There is a continued focus on organic growth and reinvestment into the business, whilst exploring potential acquisition opportunities.
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MOWDEN CONTROLS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
There have been no significant events affecting the Company since the year end.
The auditor for the year ended 31/03/2025 is Armstrong Watson Audit Limited.
This report was approved by the board and signed on its behalf.
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MOWDEN CONTROLS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED
We have audited the financial statements of Mowden Controls Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Company's ability to continue as a going concern for a period of at least twelve 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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. 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 course of 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.
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MOWDEN CONTROLS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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MOWDEN CONTROLS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED (CONTINUED)
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 Auditors' 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, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and employment legislation.
- We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.
- We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences if fraud that had taken place during the accounting period.
- The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition
- We reviewed financial statements disclosures and tested it supporting documentation to assess compliance with relevant laws and regulations discussed above.
- We enquired of the directors and third-party advisors about actual and potential litigation and claims.
- In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.
Due to the inherent limitations of an audit, there is unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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MOWDEN CONTROLS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED (CONTINUED)
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 we are required to state to them in an Auditors' 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.
for and on behalf of
Chartered Accountants & Statutory Auditors
Northallerton
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MOWDEN CONTROLS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
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MOWDEN CONTROLS LIMITED
REGISTERED NUMBER: 00836166
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 12 to 21 form part of these financial statements.
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MOWDEN CONTROLS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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MOWDEN CONTROLS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Mowden Controls Limited is a private company limited by shares, incorporated in England with the registration number 00836166. The address of it's registered office and principal place of business is Mount View, Standard Way Industrial Estate, Northallerton, North Yorkshire, DL6 2YD. Presentation and functional currency is sterling.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors continue to adopt the going concern basis of accounting in preparing the financial statements
Functional and presentation currency
Transactions and balances
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Company operates a share option incentive scheme for a director. The fair value of options granted, if material, is recognised as an employee expense in the income statement with a corresponding increase in equity. The fair value is measured at grant date and spread over the period during which the employees become unconditionally entitled to the options. The amount recognised in the profit and loss account, if material, is adjusted at each balance sheet date to reflect the number of share options that vest for estimated achievement of non market based vesting conditions.
Analysis of turnover by country of destination:
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MOWDEN CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
6.Taxation (continued)
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