Monkschem Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Monkschem Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01358057 . The registered office is 70 Harrow Road, Wembley, Middlesex, HA9 6PL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

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Monkschem Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on straight line basis
Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	15% reducing balance basis
Computer Equipment	25% reducing balance basis

2.6. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Monkschem Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.9. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Intangible Assets

	Goodwill	Development Costs	Total
	£	£	£
Cost
As at 1 October 2024	1,095	77,924	79,019

As at 30 September 2025	1,095	77,924	79,019

Amortisation
As at 1 October 2024	1,095	26,486	27,581
Provided during the period	-	2,158	2,158

As at 30 September 2025	1,095	28,644	29,739

Net Book Value
As at 30 September 2025	-	49,280	49,280

As at 1 October 2024	-	51,438	51,438

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 October 2024	57,084	114,157	1,090	172,331

As at 30 September 2025	57,084	114,157	1,090	172,331

...CONTINUED

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Monkschem Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

Depreciation
As at 1 October 2024	24,974	103,652	476	129,102
Provided during the period	8,027	1,576	153	9,756

As at 30 September 2025	33,001	105,228	629	138,858

Net Book Value
As at 30 September 2025	24,083	8,929	461	33,473

As at 1 October 2024	32,110	10,505	614	43,229

6. Investment Property

	2025
	£
Fair Value
As at 1 October 2024 and 30 September 2025	529,767

7. Stocks

	2025	2024
	£	£
Finished goods	185,371	172,030

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	123,509	116,466
Other debtors	52,636	43,504

	176,145	159,970
Due after more than one year
Amounts owed by participating interests	152,376	297,376

	328,521	457,346

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	30,191	6,844
Trade creditors	81,664	80,223
Other creditors	97,782	117,203
Taxation and social security	42,516	47,402

	252,153	251,672

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Monkschem Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	30,191

11. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	30,191	6,844
Later than one year and not later than five years	-	30,191

	30,191	37,035

	30,191	37,035

12. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	5,000	5,000

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		49,280		51,438
Tangible Assets	5		33,473		43,229
Investment Properties	6		529,767		529,767

			612,520		624,434
CURRENT ASSETS
Stocks	7	185,371		172,030
Debtors	8	328,521		457,346
Cash at bank and in hand		238,083		62,795

		751,975		692,171
Creditors: Amounts Falling Due Within One Year	9	(252,153 )		(251,672 )

NET CURRENT ASSETS (LIABILITIES)			499,822		440,499

TOTAL ASSETS LESS CURRENT LIABILITIES			1,112,342		1,064,933

Creditors: Amounts Falling Due After More Than One Year	10		-		(30,191 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(8,100 )		(10,480 )

NET ASSETS			1,104,242		1,024,262

CAPITAL AND RESERVES
Called up share capital	12		5,000		5,000
Profit and Loss Account			1,099,242		1,019,262

SHAREHOLDERS' FUNDS			1,104,242		1,024,262