REGISTERED NUMBER: 04650473 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

MPN UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr V K Mateffy

Mr G C Perl

Mr S Crawford

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

REGISTERED NUMBER:

04650473 (England and Wales)

FIXED ASSETS

Tangible assets

5

10,803

10,644

CURRENT ASSETS

Stocks

76,253

104,545

Debtors

6

479,461

446,387

Cash at bank and in hand

827,598

843,187

1,383,312

1,394,119

CREDITORS

Amounts falling due within one year

7

297,796

350,219

NET CURRENT ASSETS

1,085,516

1,043,900

TOTAL ASSETS LESS CURRENT LIABILITIES

1,096,319

1,054,544

PROVISIONS FOR LIABILITIES

1,973

1,793

NET ASSETS

1,094,346

1,052,751

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,094,345

1,052,750

SHAREHOLDERS' FUNDS

1,094,346

1,052,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

Mr G C Perl - Director

Mr S Crawford - Director

1.	STATUTORY INFORMATION

MPN UK 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 under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value, net of value added taxation and discounts, of services provided to customers in the accounting period.

Turnover in relation to the provision of contracted services are invoiced in line with the contractual terms of the agreement with the customer, and recognised in the profit and loass account when it is both probable that an economic benefit will flow to the company and the revenue and costs can be reliably measured.

Provisions for services provided but not invoiced at the reporting date are recognised within work in progress.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, 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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2024

40,527

Additions

4,844

Disposals

(6,576

)

At 30 June 2025

38,795

DEPRECIATION

At 1 July 2024

29,883

Charge for year

3,602

Eliminated on disposal

(5,493

)

At 30 June 2025

27,992

NET BOOK VALUE

At 30 June 2025

10,803

At 30 June 2024

10,644

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

363,115

293,954

Other debtors

116,346

152,433

479,461

446,387

Included within other debtors disclosed above is a balance of £74,083 (2024 - £74,133) in relation to prepaid expenses, a balance of £13,500 (2024 - £7,200) in relation to rent deposits, a balance of £600 (2024 - £nil) in relation to a cycle to work scheme, a balance of £25,600 (2024 - £11,100) in relation to employee loans and a balance of £2,563 (2024 - £60,000) in relation to directors loan accounts.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,183

2,562

Amounts owed to group undertakings

22,468

24,734

Taxation and social security

126,749

111,158

Other creditors

143,396

211,765

297,796

350,219

Included within other creditors disclosed above is a balance of £128,474 (2024 - £194,876) in relation to accrued expenses, a balance of £10,432 (2024 - £14,654) in relation to the pension control and a balance of £4,490 (2024 - £2,235) in relation to other creditors.

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

18,900

36,720

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company continued to provide an interest-bearing loan to its directors. Amounts advanced to the directors totalled £Nil (2024 - £60,000), amounts repaid to the company totalled £60,000 (2024 - £Nil) and interest charged on the loan at a rate of 5.9% totalled £2,563 (2024 - £Nil). The balance owed to the company at the year end totalled £2,563 (2024 - £60,000) and is repayable on demand.

10.	RELATED PARTY DISCLOSURES

During the year the company continued to receive support by way of a loan account with MPN International Pty Limited, its immediate parent company. As at the balance sheet date the amount owed by the company to MPN International Pty Limited was £22,468 (2024 - £24,734). The loan account is repayable on demand and no interest was charged in the current or prior year.

MPN International Pty Limited is a company limited by shares and registered in Australia with the Australian company number 086042962. Its business location is Ground Floor, 213 Miller St, North Sydney, NSW 2060.

11.	ULTIMATE CONTROLLING PARTY

Henem Pty Limited and VAST Holdings Pty Limited have joint ultimate control of MPN UK Ltd.