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Registration number: 14622235

MTS Holdings (North West) Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

MTS Holdings (North West) Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Unaudited Financial Statements | 3 to 8

MTS Holdings (North West) Limited

Company Information

Directors | Mr IC McShannon Mrs C McShannon

Registered office | 1A Potter Place West Pimbo Industrial Estate Skelmersdale Lancashire England WN8 9PW

Accountants | McDade Roberts Accountants Ltd Chartered Accountants316 Blackpool Road Preston Lancashire PR2 3AE

MTS Holdings (North West) Limited

(Registration number: 14622235)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 768,000 | 784,000
Investments | 5 | 842,650 | 50,200
|  | 1,610,650 | 834,200
Current assets |  |  |
Debtors | 6 | 34,000 | 59,000
Cash at bank and in hand |  | 5,644,471 | 5,284,832
|  | 5,678,471 | 5,343,832
Creditors: Amounts falling due within one year | 7 | (17,856) | (5,181)
Net current assets |  | 5,660,615 | 5,338,651
Net assets |  | 7,271,265 | 6,172,851
Capital and reserves |  |  |
Called up share capital |  | 50,102 | 50,102
Retained earnings |  | 7,221,163 | 6,122,749
Shareholders' funds |  | 7,271,265 | 6,172,851

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 15 May 2026 and signed on its behalf by:

......................................... Mr IC McShannon Director

MTS Holdings (North West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1A Potter Place
West Pimbo Industrial Estate
Skelmersdale
Lancashire
WN8 9PW
England

These financial statements were authorised for issue by the Board on 15 May 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The financial statements contain information about MTS Holdings (North West) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

MTS Holdings (North West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Freehold property | 2% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

MTS Holdings (North West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

MTS Holdings (North West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Tangible assets

| Land and buildings £ | Total £
Cost or valuation
At 1 January 2025 | 800,000 | 800,000
At 31 December 2025 | 800,000 | 800,000
Depreciation
At 1 January 2025 | 16,000 | 16,000
Charge for the year | 16,000 | 16,000
At 31 December 2025 | 32,000 | 32,000
Carrying amount
At 31 December 2025 | 768,000 | 768,000
At 31 December 2024 | 784,000 | 784,000

Included within the net book value of land and buildings above is £768,000 (2024 - £784,000) in respect of freehold land and buildings.

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 842,650 | 50,200

MTS Holdings (North West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

5 | Investments (continued)

Subsidiaries | £
Cost or valuation
At 1 January 2025 | 50,200
Additions | 792,450
At 31 December 2025 | 842,650
Provision
Carrying amount
At 31 December 2025 | 842,650
At 31 December 2024 | 50,200

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
McShannon Trailer Sales Limited |  | Ordinary £1 | 100% | 100%
Throstle Nest Properties Limited |  | Ordinary £1 | 100% | 100%

6 | Debtors

Current | Note | 2025 £ | 2024 £
Amounts owed by related parties | 8 | 34,000 | 59,000
|  | 34,000 | 59,000

MTS Holdings (North West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 8 | 100 | 100
Taxation and social security |  | 17,756 | 5,081
|  | 17,856 | 5,181

8 | Related party transactions

Summary of transactions with subsidiaries

During the year the company held a loan with the related party with the amount owed by Throstle Nest Properties Limited being £34,000 at 31 December 2025 (2024: £59,000). The loan is unsecured, interest free and repayable upon demand.
During the year the company held a loan with the related party with the amount owed to MTS Red Rose Limited being £100 at 31 December 2025 (2024: £100). The loan is unsecured, interest free and repayable upon demand.
During the year the company subscribed for a further 587 £1 ordinary shares in Throstle Nest Properties Ltd for a consideration of £792,450. The shares have been fully paid and the proceeds of the share issue were used to pay off group indebtedness.

Summary of transactions with other related parties

Ultimate Controlling Party The controlling party is Mr I McShannon and Mrs C McShannon.