REGISTERED NUMBER: 02177443 (England and Wales)

MONCASTER WIRE PRODUCTS LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

S McKeon

Miss S Cavatorta

SECRETARY:

S McKeon

REGISTERED OFFICE:

Cavatorta House

Tattershall Way

Fairfield Industrial Estate

Louth

Lincolnshire

LN11 0YZ

REGISTERED NUMBER:

02177443 (England and Wales)

SENIOR STATUTORY AUDITOR:

Tara Bellamy FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Oxley House

Lincoln Way

Louth

Lincolnshire

LN11 0LS

BANKERS:

Clydesdale Bank

FIXED ASSETS

Tangible assets

4

1,389,060

1,334,416

CURRENT ASSETS

Stocks

5

3,116,414

2,690,812

Debtors

6

1,087,598

984,938

Cash at bank

1,373,116

1,699,733

5,577,128

5,375,483

CREDITORS

Amounts falling due within one year

7

1,025,380

1,127,429

NET CURRENT ASSETS

4,551,748

4,248,054

TOTAL ASSETS LESS CURRENT LIABILITIES

5,940,808

5,582,470

PROVISIONS FOR LIABILITIES

70,382

54,226

NET ASSETS

5,870,426

5,528,244

CAPITAL AND RESERVES

Called up share capital

9

631,581

631,581

Retained earnings

5,238,845

4,896,663

SHAREHOLDERS' FUNDS

5,870,426

5,528,244

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 and authorised for issue by the Board of Directors and authorised for issue on 12 May 2026 and were signed on its behalf by:

S McKeon - Director

1.	STATUTORY INFORMATION

Moncaster Wire Products 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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 amounts charged to customers for goods and services provided during the year, excluding value added tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by the customer.

Commissions

Revenue from commissions received is recognised as turnover in the income statement.

Interest received

Revenue from interest receivable relating to bank interest and corporation tax interest is recognised as other income in the income statement.

Sundry income

Revenue from a feed-in tariff is recognised as other income in the income statement.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property

- Not depreciated

Land

- Not depreciated

Property improvements

- Straight line over 10 years

Plant and machinery etc

- at varying rates on cost

Freehold buildings are depreciated to write down the cost less estimated residual value over their remaining useful life by equal annual instalments. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation, no depreciation is charged.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using an average cost basis.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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 the income statement in the period to which they relate.

Operating leases

Rentals paid under operating leases are charged to the income statement on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

1,197,633

852,082

2,049,715

Additions

-

84,620

84,620

Disposals

-

(9,450

)

(9,450

)

At 31 December 2025

1,197,633

927,252

2,124,885

DEPRECIATION

At 1 January 2025

-

715,299

715,299

Charge for year

-

29,976

29,976

Eliminated on disposal

-

(9,450

)

(9,450

)

At 31 December 2025

-

735,825

735,825

NET BOOK VALUE

At 31 December 2025

1,197,633

191,427

1,389,060

At 31 December 2024

1,197,633

136,783

1,334,416

Included in freehold property is a building at a cost of £1,047,633 (2024: £1,047,633) and land at £150,000 (2024: £150,000) which is not depreciated.

5.

STOCKS

2025

2024

£

£

Stocks

2,900,153

2,690,812

Goods in transit

216,261

-

3,116,414

2,690,812

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,009,803

935,913

Amounts owed by group undertakings

2,949

4,166

Other debtors

74,846

44,859

1,087,598

984,938

Amounts owed by group undertakings are non secured and are repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

48,944

117,293

Amounts owed to group undertakings

630,261

646,412

Taxation and social security

306,226

307,413

Other creditors

39,949

56,311

1,025,380

1,127,429

Amounts owed to group undertakings are non secured and are repayable on demand.

8.	LEASING AGREEMENTS

At at 31 December 2025 the company had a total liability of £48,552 (2024: £74,471) in respect of the rental due on the remaining periods of its equipment rental.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

631,581

Ordinary

£1

631,581

631,581

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tara Bellamy FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £136,834 (2024: £96,828).

At the year end contributions totalling £2,610 (2024: £1,888) was outstanding.

12.	OTHER FINANCIAL COMMITMENTS

Although the company is based in the UK, it has a significant foreign currency exposure through the purchase and sale of goods in currencies other than Sterling. The company mitigates its exposure to currency fluctuations via hedging and forward contracts wherever appropriate and cost effective.

At 31 December 2025 the company had a commitment in place under a forward exchange contract for £Nil (2024: £Nil).

13.	RELATED PARTY DISCLOSURES

Outstanding

Outstanding

2025

2024

Related party

Transaction and amount

£

£

Parent company

Purchases and interest of £963,572 (2024: £819,010)

Nil

Nil

Parent company

Short term creditors

Nil

118,363

Fellow subsidiary companies

Purchases of £2,989,500 (2024: £2,622,093)

Nil

Nil

Fellow subsidiary companies

Commissions receivable of £15,806 (2024: £11,641)

Nil

Nil

Fellow subsidiary companies

Short term creditors

630,261

528,049

Fellow subsidiary companies

Debtors

2,949

4,166

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I.FI.CO.M S.r.l.

15.	COMPANIES HOUSE CHARGES

There are two outstanding charges on Companies House, one of which is pledged as security for a mortgage relating to Cavatorta House which has a net book value of £1,197,633 (2024: £1,197,633). The other charge is a floating charge against a debenture which covers the value of all assets within the company.