REGISTERED NUMBER: 03132694 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MIDAS PATTERN COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Rance

P Lewis

SECRETARY:

P Lewis

REGISTERED OFFICE:

22 Shuttleworth Road

Elm Farm Industrial Estate

Bedford

Bedfordshire

MK41 0RX

REGISTERED NUMBER:

03132694 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

BANKERS:

Barclays Bank plc

41 High Street

St Neots

Huntingdon

Cambridge

PE19 1AS

FIXED ASSETS

Tangible assets

4

797,538

950,516

CURRENT ASSETS

Stocks

240,568

241,337

Debtors

5

1,441,377

1,720,586

Cash at bank

1,757,904

1,746,505

3,439,849

3,708,428

CREDITORS

Amounts falling due within one year

6

1,204,631

1,340,676

NET CURRENT ASSETS

2,235,218

2,367,752

TOTAL ASSETS LESS CURRENT LIABILITIES

3,032,756

3,318,268

CREDITORS

Amounts falling due after more than one year

7

(63,553

)

(171,654

)

PROVISIONS FOR LIABILITIES

10

(527,354

)

(489,194

)

NET ASSETS

2,441,849

2,657,420

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,440,849

2,656,420

SHAREHOLDERS' FUNDS

2,441,849

2,657,420

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 26 May 2026 and were signed on its behalf by:

A Rance - Director

1.	STATUTORY INFORMATION

Midas Pattern Company 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.

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.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Dilapidations provisions

Dilapidations are provided for based on professional valuations over the life of the relevant leases.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 77 (2024 - 88 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2025

234,946

1,574,709

191,761

Additions

-

9,863

1,664

Disposals

-

-

-

At 31 December 2025

234,946

1,584,572

193,425

DEPRECIATION

At 1 January 2025

112,445

955,831

140,012

Charge for year

12,655

93,297

7,761

Eliminated on disposal

-

-

-

At 31 December 2025

125,100

1,049,128

147,773

NET BOOK VALUE

At 31 December 2025

109,846

535,444

45,652

At 31 December 2024

122,501

618,878

51,749

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

183,509

164,525

2,349,450

Additions

-

700

12,227

Disposals

(41,885

)

-

(41,885

)

At 31 December 2025

141,624

165,225

2,319,792

DEPRECIATION

At 1 January 2025

40,307

150,339

1,398,934

Charge for year

35,128

9,634

158,475

Eliminated on disposal

(35,155

)

-

(35,155

)

At 31 December 2025

40,280

159,973

1,522,254

NET BOOK VALUE

At 31 December 2025

101,344

5,252

797,538

At 31 December 2024

143,202

14,186

950,516

The net book value of tangible fixed assets includes £ 249,494 (2024 - £ 408,631 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

911,678

1,068,486

Other debtors

76,360

217,355

Tax

50,742

50,796

Prepayments and accrued income

124,450

102,544

1,163,230

1,439,181

Amounts falling due after more than one year:

Directors' loan accounts

278,147

281,405

Aggregate amounts

1,441,377

1,720,586

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

30,000

60,000

Hire purchase contracts (see note 8)

78,112

107,706

Trade creditors

258,308

257,524

Tax

221,041

194,269

Social security and other taxes

64,499

49,424

VAT

164,323

147,480

Other creditors

16,085

56,801

Directors' current accounts

192,832

131,057

Accruals and deferred income

179,431

336,415

1,204,631

1,340,676

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

-

30,000

Hire purchase contracts (see note 8)

63,553

141,654

63,553

171,654

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

78,112

107,706

Between one and five years

63,553

141,654

141,665

249,360

Non-cancellable

operating leases

2025

2024

£

£

Within one year

218,068

218,068

Between one and five years

836,654

853,723

In more than five years

666,250

867,250

1,720,972

1,939,041

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

141,665

249,360

Hire purchase balances are secured on the related assets

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

190,154

227,594

Other provisions

337,200

261,600

527,354

489,194

Dilapidati

Deferred

on

tax

provision

£

£

Balance at 1 January 2025

227,594

130,800

Provided during year

(37,440

)

-

Balance at 31 December 2025

190,154

130,800

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

The Report of the Auditors was unqualified.

Robyn Liddell (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

12.	TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

A Rance

Balance outstanding at start of year

150,348

-

Amounts advanced

-

150,348

Amounts repaid

(65,033

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

85,315

150,348

A loan of £278,147 was made to Mr A Rance on 20th June 2024 payable over 10 years with interest to be charged at a daily rate of 2.25%. At the year end £278,147 was owed to the company.

13.	GREEN INITIATIVES

In 2025, In Line with our ISO 14064 Carbon Net Zero accreditation, Midas purchased and registered a further 500 Pending Issuance Units (PIU's) and planted an additional 500 broadleaf trees, all within our local community forest - The Forest of Marston Vale. This brings the total number of PIU's to 3000 & the total number of trees planted to 5800. As part of our Midas Green Initiative and our long term strategic partnership with The Forest of Marston Vale we pledge to purchase a minimum of 500 PIU's and plant a minimum of 500 trees per annum. We also continued the development of plant based alternatives to traditional oil based Polyurethanes and our commitment to 100% circular manufacturing has been enhanced with further investments in our PU waste reprocessing/recycling facility.