ACCOUNTS - Final Accounts

Operating profit/(loss)

The operating profit/(loss) is stated after charging:

Company Registration Number: 00836166

MOWDEN CONTROLS LIMITED

FINANCIAL STATEMENTS

31 MARCH 2026

MOWDEN CONTROLS LIMITED

COMPANY INFORMATION

Directors	E A Barber
	M J Green
	A L Kirk
	N Maclean
	J J Salisbury (resigned 31 May 2026)
	S L Williams
	T W Barber (appointed 1 April 2026)


Company secretary	S L Williams


Registered number	00836166


Registered office	Mount View
	Standard Way Industrial Estate
	Northallerton
	North Yorkshire
	DL6 2YD


Independent auditors	Armstrong Watson Audit Limited
	Chartered Accountants & Statutory Auditors
	York House
	Thornfield Business Park
	Standard Way
	Northallerton
	North Yorkshire
	DL6 2XQ

MOWDEN CONTROLS LIMITED

CONTENTS

	Page
Strategic Report	1
Directors' Report	2
Directors' Responsibilities Statement	3
Independent Auditors' Report	4 - 7
Statement of Comprehensive Income	8
Statement of Financial Position	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Analysis of Net Debt	12
Notes to the Financial Statements	13 - 23

MOWDEN CONTROLS LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

Introduction

The principal activities of the company during the year were the development, design, manufacture and sale of bespoke electronic equipment.

Business review

With phase one of the company’s succession plan now largely complete, and with new CEO Liz Barber in place, the board intends to move forward with phase two. This will involve the rollout of a new, completely integrated ERP system that will streamline the company’s planning and response times. As well as creating efficiencies, this will improve the customer experience, contributing to the company’s expanding market share.

Principal risks and uncertainties

Competitive risks

The company operates in an open market environment. The company’s customers select suppliers based on a combination of factors including price, delivery, quality, and reputation. The company has mitigated these risks wherever possible, by entering into long term understandings with key partner accounts. The company monitors key performance indicators including on-time delivery, defects and conversion ratios to monitor its competitive position.

Credit risks

The company’s principal financial assets are the fixed assets employed in the business which are wholly owned, bank balances, stock and work in progress and trade receivables. Of these, only trade receivables are subject to credit risk and the company evaluates trade debtors with reference to credit reference agencies when allowing lines of credit. Payment to terms is monitored as a key performance indicator.

Liquidity risks

The company keeps large financial reserves, principally in order to allow it to make investments in plant as required and/or to allow it to take advantage of acquisition opportunities as they arise without the need to resort to shareholders for financial support. There is thus little risk that spikes in sales orders will give rise to liquidity issues.

Financial key performance indicators
	2026	2025
	£	£

Turnover	4,963,027	4,943,370
Gross profit	1,471,549	1,177,965
Profit before tax	57,327	40,247
Shareholders' funds	5,811,633	5,774,212

This report was approved by the board and signed on its behalf.

S L Williams

Director

Date: 29 June 2026

Page 1

MOWDEN CONTROLS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2026

The directors present their report and the financial statements for the year ended 31 March 2026.

Results and dividends

The profit for the year, after taxation, amounted to £37,421 (2025 - £56,850).

Dividends of £Nil (2025 - £Nil) were paid in the year. The directors do not recommend payment of a final dividend.

Directors

The directors who served during the year were:

E A Barber

M J Green

A L Kirk

N Maclean

J J Salisbury (resigned 31 May 2026)

S L Williams

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.

S L Williams

Director

Date: 29 June 2026

Page 2

MOWDEN CONTROLS LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Page 3

MOWDEN CONTROLS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED

Opinion

We have audited the financial statements of Mowden Controls Limited (the 'company') for the year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 4

MOWDEN CONTROLS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Page 5

MOWDEN CONTROLS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

∙We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and employment legislation.

∙We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

∙We gained an understanding of the controls that the directors have in place to prevent and detect fraud.

∙We enquired of the directors about any incidences if fraud that had taken place during the accounting period.

∙The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition

∙We reviewed financial statements disclosures and tested it supporting documentation to assess compliance with relevant laws and regulations discussed above.

∙We enquired of the directors and third-party advisors about actual and potential litigation and claims.

∙In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

Due to the inherent limitations of an audit, there is unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

MOWDEN CONTROLS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOWDEN CONTROLS LIMITED (CONTINUED)

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Turner (Senior Statutory Auditor)

for and on behalf of

Armstrong Watson Audit Limited

Chartered Accountants & Statutory Auditors

Northallerton

Date: 5 July 2026

Page 7

MOWDEN CONTROLS LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

	2026	2025
Note	£	£

Turnover	3	4,963,027	4,943,370
Cost of sales		(3,491,478)	(3,765,405)
Gross profit		1,471,549	1,177,965
Administrative expenses		(1,448,816)	(1,186,280)
Other operating income	4	2,844	4,849
Operating profit/(loss)	5	25,577	(3,466)
Interest receivable and similar income	8	31,750	43,713
Profit before tax		57,327	40,247
Tax on profit	9	(19,906)	16,603
Profit for the financial year		37,421	56,850

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 13 to 23 form part of these financial statements.

Page 8

MOWDEN CONTROLS LIMITED

REGISTERED NUMBER: 00836166

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	10		1,327,435		1,364,667
Current assets
Stocks	11	1,329,241		1,445,366
Debtors: amounts falling due within one year	12	1,115,794		440,904
Cash at bank and in hand	13	2,508,501		2,924,788
		4,953,536		4,811,058
Creditors: amounts falling due within one year	14	(445,621)		(377,537)
Net current assets			4,507,915		4,433,521
Total assets less current liabilities			5,835,350		5,798,188
Provisions for liabilities
Deferred tax	15	(23,717)		(23,976)
			(23,717)		(23,976)
Net assets			5,811,633		5,774,212

Capital and reserves
Called up share capital	16	100,000	100,000
Share premium account	17	217,440	217,440
Capital redemption reserve	17	4,000	4,000
Profit and loss account	17	5,490,193	5,452,772
		5,811,633	5,774,212

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S L Williams

Director

Date: 29 June 2026

The notes on pages 13 to 23 form part of these financial statements.

Page 9

MOWDEN CONTROLS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2024	100,000	217,440	4,000	5,395,922	5,717,362
Comprehensive income for the year
Profit for the year	-	-	-	56,850	56,850

At 1 April 2025	100,000	217,440	4,000	5,452,772	5,774,212
Comprehensive income for the year
Profit for the year	-	-	-	37,421	37,421
At 31 March 2026	100,000	217,440	4,000	5,490,193	5,811,633

The notes on pages 13 to 23 form part of these financial statements.

Page 10

MOWDEN CONTROLS LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit for the financial year	37,421	56,850
Adjustments for:
Depreciation of tangible assets	204,991	181,791
Interest received	(31,750)	(43,713)
Taxation charge	19,906	(16,603)
Decrease in stocks	100,415	179,549
(Increase)/decrease in debtors	(687,260)	569,287
Increase/(decrease) in creditors	101,896	(370,470)
Corporation tax (paid)	(25,897)	(332,159)
Net cash generated from operating activities	(280,278)	224,532

Cash flows from investing activities
Purchase of tangible fixed assets	(167,759)	(29,093)
Interest received	31,750	43,713
Net cash from investing activities	(136,009)	14,620

Net (decrease)/increase in cash and cash equivalents	(416,287)	239,152
Cash and cash equivalents at beginning of year	2,924,788	2,685,636
Cash and cash equivalents at the end of year	2,508,501	2,924,788

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	2,508,501	2,924,788

The notes on pages 13 to 23 form part of these financial statements.

Page 11

MOWDEN CONTROLS LIMITED

ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 MARCH 2026


At 1 April 2025	Cash flows	At 31 March 2026
£	£	£

Cash at bank and in hand

2,924,788

(416,287)

2,508,501

The notes on pages 13 to 23 form part of these financial statements.

Page 12

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Mowden Controls Limited is a private company limited by shares, incorporated in England with the registration number 00836166. The address of its registered office and principal place of business is Mount View, Standard Way Industrial Estate, Northallerton, North Yorkshire, DL6 2YD. Presentation and functional currency is sterling.

2.Accounting policies

2.1

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

2.2

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. As a result the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3

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.

Page 13

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.4

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.

2.5

Interest income

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

2.6

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 Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 14

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.7

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 reporting 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 reporting 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 reporting date.

2.8

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.

Land is not depreciated. Depreciation on other assets 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:

Freehold property	-	2% on cost
Plant and machinery	-	25% on cost
Motor vehicles	-	25% on reducing balance
Fixtures and fittings	-	20% on reducing balance
Computer systems	-	25% on cost
Computer hardware	-	25% on cost
Renewable energy installation	-	5% on cost

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.

Page 15

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.9

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 reporting 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.

2.10

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.

2.11

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.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

2.12

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.

2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

2.14

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.

Page 16

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Turnover

The whole of the turnover is attributable to the principal activity of the company.

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	4,839,428	4,743,001
Rest of Europe	113,833	179,944
Rest of the world	9,766	20,425
	4,963,027	4,943,370

4.	Other operating income
		2026	2025
		£	£

	Other operating income	2,844	4,849

Depreciation of tangible fixed assets	204,991	181,791
Exchange differences	19,690	(12,845)
Auditors' remuneration	14,350	12,350

Page 17

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

6.	Employees
		2026	2025
		£	£

Wages and salaries	1,775,065	1,879,258
Social security costs	210,111	188,474
Cost of defined contribution scheme	152,715	239,005
	2,137,891	2,306,737

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Production	34	33
Administration and management	23	23

	57	56

7.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	321,563	427,237
Company contributions to defined contribution pension schemes	115,356	198,804
	436,919	626,041

	During the year retirement benefits were accruing to 3 directors (2025 - 3) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £118,605 (2025 - £123,151).

8.	Interest receivable
		2026	2025
		£	£

Other interest receivable

31,750

43,713

Page 18

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Corporation tax
Current tax on profits for the year	20,114	45,752
Adjustments in respect of previous periods	51	(33,331)

Total current tax	20,165	12,421

Deferred tax
Short term timing differences	(259)	(96)
Fixed asset timing differences	-	(28,928)
Total deferred tax	(259)	(29,024)


	Tax on profit	19,906	(16,603)

Profit on ordinary activities before tax

57,327

40,247

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	14,332	10,062
Effects of:
Fixed asset differences	7,299	7,299
Expenses not deductible for tax purposes	690	572
Adjustments to tax charge in respect of prior periods	51	(33,588)
Other differences leading to an increase (decrease) in the tax charge	(310)	-
Marginal relief	(2,156)	(948)
Total tax charge for the year	19,906	(16,603)

Page 19


		MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

10.

Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Renewable energy installation	Computer hardware	Computer Systems	Total
	£	£	£	£	£	£	£	£
Cost or valuation
At 1 April 2025	1,640,433	1,352,902	13,775	65,271	75,601	197,682	34,296	3,379,960
Additions	-	10,191	-	186	-	91,252	66,130	167,759
At 31 March 2026	1,640,433	1,363,093	13,775	65,457	75,601	288,934	100,426	3,547,719
Depreciation
At 1 April 2025	484,500	1,200,619	13,698	56,239	47,251	178,690	34,296	2,015,293
Charge for the year on owned assets	29,196	141,159	19	1,844	3,779	28,994	-	204,991
At 31 March 2026	513,696	1,341,778	13,717	58,083	51,030	207,684	34,296	2,220,284
Net book value
At 31 March 2026	1,126,737	21,315	58	7,374	24,571	81,250	66,130	1,327,435
At 31 March 2025	1,155,933	152,283	77	9,032	28,350	18,992	-	1,364,667

Page 20

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

11.	Stocks
		2026	2025
		£	£

Raw materials and consumables	1,037,290	1,047,840
Work in progress	166,489	264,442
Finished goods and goods for resale	125,462	133,084
	1,329,241	1,445,366

12.

Debtors

					2026	2025
					£	£


Trade debtors	1,095,231	409,186
Prepayments and accrued income	20,563	31,718
	1,115,794	440,904

13.	Cash and cash equivalents
		2026	2025
		£	£

	Cash at bank and in hand	2,508,501	2,924,788

14.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	214,112	196,881
Corporation tax	18,426	45,752
Other taxation and social security	173,590	114,757
Other creditors	-	223
Accruals and deferred income	39,493	19,924
	445,621	377,537

Page 21

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

15.	Deferred taxation

	2026	2025
	£	£

At beginning of year	23,976	52,743
Charged to profit or loss	(259)	(28,767)
At end of year	23,717	23,976

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

Accelerated capital allowances	23,717	24,032
Short term timing differences	-	(56)
	23,717	23,976

16.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

100,000 (2025 - 100,000) Ordinary shares of £1.00 each	100,000	100,000

17.

Reserves

Share premium account

This reserve represents the surplus amounts received above the par value on the issue of shares.

Capital redemption reserve

This reserve represents the distributions available to shareholders on the redemption of shares.

Profit and loss account

This reserve represents the cumulative profits and losses, net of any dividends paid, available for distribution to shareholders.

18.	Pension commitments

The company operates a defined contributions 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 £152,715 (2025 - £239,005).

Page 22

MOWDEN CONTROLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

19.	Controlling party

The directors are of the opinion that no one individual has ultimate control of the company.

Page 23