ACCOUNTS - Final Accounts preparation

Registered number: NI619450

TERBERG MPM IRELAND LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

TERBERG MPM IRELAND LIMITED

REGISTERED NUMBER: NI619450

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		13,533,038		7,619,232
			13,533,038		7,619,232
Current assets
Stocks		1,097,994		1,297,219
Debtors: amounts falling due within one year	6	1,769,919		1,157,975
Cash at bank and in hand	7	1,143,875		570,886
		4,011,788		3,026,080
Creditors: amounts falling due within one year	8	(5,537,453)		(3,428,967)
Net current liabilities			(1,525,665)		(402,887)
Total assets less current liabilities			12,007,373		7,216,345
Creditors: amounts falling due after more than one year	9		(7,968,499)		(3,502,219)
Provisions for liabilities
Deferred tax		(710,602)		(275,200)
Other provisions	10	(2,625)		(18,557)
			(713,227)		(293,757)
Net assets			3,325,647		3,420,369

Capital and reserves
Called up share capital			100		100
Profit and loss account			3,325,547		3,420,269
			3,325,647		3,420,369

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TERBERG MPM IRELAND LIMITED

REGISTERED NUMBER: NI619450

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 June 2026.

Mr Mark McCluskey

Director

The notes on pages 3 to 11 form part of these financial statements.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

The principal activity of the company during the year was the sale and rental of specialist vehicles.

2.Accounting policies

2.1

Company information

Terberg MPM Ireland Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 3 Ballygowan Road, Hillsborough, Co. Down, Northern Ireland, BT26 6HX.

2.2

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.3

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the Company as lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the financial statements as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Buildings	-	10%	Straight line
				Plant and machinery	-	20%	Straight line
				Motor vehicles	-	25%	Straight line
				Fixtures and fittings	-	33%	Straight line
				Rental Fleet	-	15%	Straight line with 10% residual value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.

Employees

The average monthly number of employees, including directors, during the year was 25 (2024 - 23).

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2025	75,000
	At 31 December 2025	75,000
	Amortisation
	At 1 January 2025	75,000
	At 31 December 2025	75,000
	Net book value
	At 31 December 2025	-
	At 31 December 2024	-

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		TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

5.

Tangible fixed assets

		Freehold property	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Hire fleet	Total
		£	£	£	£	£	£	£
	Cost or valuation
	At 1 January 2025	593,734	631,803	124,846	406,399	47,978	8,448,615	10,253,375
	Additions	-	2,573,173	117,343	308,626	693,193	4,222,493	7,914,828
	Disposals	-	(65,828)	(11,650)	(242,549)	(3,516)	(456,990)	(780,533)
	At 31 December 2025	593,734	3,139,148	230,539	472,476	737,655	12,214,118	17,387,670
	Depreciation
	At 1 January 2025	-	46,209	90,360	201,485	42,984	2,253,105	2,634,143
	Charge for the year on owned assets	-	34,686	16,973	96,073	78,147	1,346,772	1,572,651
	Disposals	-	(48,735)	(11,650)	(65,213)	(3,516)	(223,048)	(352,162)
	At 31 December 2025	-	32,160	95,683	232,345	117,615	3,376,829	3,854,632
	Net book value
	At 31 December 2025	593,734	3,106,988	134,856	240,131	620,040	8,837,289	13,533,038
	At 31 December 2024	593,734	585,594	34,486	204,914	4,994	6,195,510	7,619,232

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.

Debtors

					2025	2024
					£	£


	Trade debtors	1,299,886	886,265
	Amounts owed by group undertakings	106,302	108,463
	Other debtors	70,555	33,727
	Prepayments and accrued income	54,361	24,161
	Tax recoverable	238,815	105,359
		1,769,919	1,157,975

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

7.	Cash and cash equivalents
					2025	2024
					£	£

	Cash at bank and in hand	1,143,875	570,886
		1,143,875	570,886

8.	Creditors: Amounts falling due within one year
					2025	2024
					£	£

	Trade creditors	301,053	196,127
	Amounts owed to group undertakings	4,206,950	2,568,771
	Other taxation and social security	99,200	79,696
	Obligations under finance lease and hire purchase contracts	-	26,167
	Other creditors	216,765	62,830
	Accruals and deferred income	713,485	495,376
		5,537,453	3,428,967

Trade balances included within amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Loans due to parent company are subject to varying interest rates from 2% to 5.5%.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Creditors: Amounts falling due after more than one year
					2025	2024
					£	£

	Amounts owed to group undertakings	7,968,499	3,502,219
		7,968,499	3,502,219

10.	Provisions

		Warranty Provision
		£

	At 1 January 2025	18,557
	Charged to profit or loss	(15,932)
	At 31 December 2025	2,625

11.	Capital commitments
	At 31 December 2025 the Company had capital commitments as follows:
					2025	2024
					£	£

	Contracted for but not provided in these financial statements	-	3,098,000
		-	3,098,000

12.	Related party transactions
	During the year, the parent company advanced £3,929,375 to Terberg MPM Ireland Limited. These loans are subject to varying interest rates from 2% to 5.5%.

13.	Controlling party

The Company's ultimate controlling party is Royal Terberg Group B.V. by virtue of majority shareholding.

The smallest group for which consolidated accounts including Terberg MPM Ireland Ltd are prepared is Royal Terberg Group B.V. These consolidated financial statements are available from its registered office, Newtownstraat 2, 3401 ja, IJsseltein, Netherlands.

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TERBERG MPM IRELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

14.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 9 June 2026 by Teresa Campbell (Senior Statutory Auditor) on behalf of AAB Group Accountants Limited.

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