MGA Controls Limited

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

1. General Information

MGA Controls Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02452790 . The registered office is Unit 6 Swordfish Business Park Swordfish Close, Higgins Lane, Burscough, Lancashire, L40 8JW.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates and value added tax. It comprises revenue from the sale of valves, actuators, instrumentation and associated process control equipment and, where applicable, the provision of related services.

Sale of goods

Revenue from the sale of valves, actuators, instrumentation and other process control equipment is recognised when control of the goods has passed to the customer, which is generally on dispatch of the goods to the customer in accordance with the contractual terms of sale. Revenue is recognised only when it is probable that the economic benefits associated with the transaction will flow to the company and the amount of revenue can be measured reliably.

Rendering of services

Where services are provided, including installation, commissioning, calibration and technical support services, revenue is recognised over time by reference to the stage of completion of the service contract at the reporting date. The stage of completion is measured by reference to costs incurred as a proportion of total estimated contract costs. Where the outcome of a service contract cannot be estimated reliably, revenue is recognised only to the extent of recoverable costs incurred.

2.4. 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:

Plant & Machinery	20% on written down value
Fixtures & Fittings	20% on written down value
Computer Equipment	25% on written down value and 33.3% on cost

2.5. 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.

2.6. 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.

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MGA Controls Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

2.7. Financial Instruments

The company only enters into basic financial instrument transactions, including trade and other debtors, cash and bank balances, and trade and other creditors.

Basic financial instruments are initially recognised at transaction price and subsequently measured at amortised cost, less impairment where appropriate.

2.8. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

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.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.11. Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.

Provisions are measured at management's best estimate of the expenditure required to settle the obligation at the reporting date. Where material, provisions are discounted to their present value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2025: 19)

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MGA Controls Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 May 2025	55,821	28,560	19,465	103,846
Additions	-	689	-	689
Disposals	(7,015 )	-	(3,678 )	(10,693 )

As at 30 April 2026	48,806	29,249	15,787	93,842

Depreciation
As at 1 May 2025	51,788	7,888	13,857	73,533
Provided during the period	805	4,256	3,669	8,730
Disposals	(7,015 )	-	(3,635 )	(10,650 )

As at 30 April 2026	45,578	12,144	13,891	71,613

Net Book Value
As at 30 April 2026	3,228	17,105	1,896	22,229

As at 1 May 2025	4,033	20,672	5,608	30,313

5. Stocks

	2026	2025
	£	£
Stock	1,103,049	590,762
Stock obsolesence provison	(28,000 )	-
Work in progress	-	244,754

	1,075,049	835,516

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	996,884	587,752
Amounts owed by group undertakings	2,499,099	2,059,288
Other debtors	19,456	56,525

	3,515,439	2,703,565

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	1,634,820	1,156,447
Other creditors	260,443	77,740
Taxation and social security	99,516	211,882

	1,994,779	1,446,069

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MGA Controls Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

8. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Accelerated capital allowances	5,557	7,579

9. Provisions for Liabilities


	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 May 2025	7,579	-	7,579
Additions	-	100,000	100,000
Origination and reversal of timing differences	(2,022 )	-	(2,022 )

Balance at 30 April 2026	5,557	100,000	105,557

A provision of £100,000 has been recognised in respect of the company's obligations to repair and reinstate its leasehold premises at the end of the lease term in February 2030.

The provision represents management's best estimate of the obligation, having regard to an independent surveyor's assessment of approximately £106,000. The final cost is uncertain and will depend upon the condition of the premises, costs prevailing and the extent of works required at the end of the lease.

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1,002	1,002

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	58,490	59,920
Later than one year and not later than five years	197,665	253,691

	256,155	313,611

12. Pension Commitments

The company operates a defined contribution pension scheme and the assets of the scheme are held separately from those of the company in independently administered funds.

At the balance sheet date unpaid contributions of £4,791 (2025: £2,122) were due to the fund which are included in Other creditors.

13. Related Party Transactions

Kirkwood Wilson Group Limited

Kirkwood Wilson Group Limited is a related party by virtue of the fact that Mr D Drummond Kirkwood-Wilson is a director of both MGA Controls Limited and Kirkwood Wilson Group Limited.

At the year end, £2,499,099 (2025: £2,159,288) was due from Kirkwood Wilson Group Limited. The amount is unsecured, interest-free, and has no fixed repayment terms. It is expected to be settled by way of a dividend in due course.

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MGA Controls Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

14. Ultimate Parent Undertaking and Controlling Party

MGA Controls Limited is a subsidiary undertaking of Kirkwood Wilson Group Limited .

Kirkwood Wilson Group Limited is incorporated in the United Kingdom and owns 100% of the issued share capital of MGA Controls Limited .

The issued share capital of Kirkwood Wilson Group Limited is owned by Mr D Drummond Kirkwood-Wilson .

As a small group, Kirkwood Wilson Group Limited is exempt from the requirement to prepare consolidated financial statements.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		22,229		30,313

			22,229		30,313
CURRENT ASSETS
Stocks	5	1,075,049		835,516
Debtors	6	3,515,439		2,703,565
Cash at bank and in hand		546,866		514,970

		5,137,354		4,054,051
Creditors: Amounts Falling Due Within One Year	7	(1,994,779 )		(1,446,069 )

NET CURRENT ASSETS (LIABILITIES)			3,142,575		2,607,982

TOTAL ASSETS LESS CURRENT LIABILITIES			3,164,804		2,638,295

PROVISIONS FOR LIABILITIES
Provisions For Charges	9		(100,000 )		-
Deferred Taxation	8		(5,557 )		(7,579 )

NET ASSETS			3,059,247		2,630,716

CAPITAL AND RESERVES
Called up share capital	10		1,002		1,002
Profit and Loss Account			3,058,245		2,629,714

SHAREHOLDERS' FUNDS			3,059,247		2,630,716

Mr S C Atwell Director	Mr J M Storner Director	Mr F U Karlsson Director
14 August 2026