REGISTERED NUMBER: 03538643 (England and Wales)

Trimax Mowing Systems Limited

Financial Statements for the Year Ended 31st March 2025

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

to

7

Director:

R C Sievwright

Registered office:

Concept House

40 Lower Farm Road

Moulton Park

Northampton

NN3 6XF

Registered number:

03538643 (England and Wales)

Auditors:

Hawsons Chartered Accountants

Statutory Auditors

Jubilee House

32 Duncan Close

Moulton Park

Northampton

NN3 6WL

Fixed assets

Tangible assets

3

342,512

345,270

Current assets

Stocks

3,424,937

2,615,860

Debtors

4

1,899,789

2,367,986

Cash at bank

137,859

196,981

5,462,585

5,180,827

Creditors

Amounts falling due within one year

5

3,242,182

3,179,914

Net current assets

2,220,403

2,000,913

Total assets less current liabilities

2,562,915

2,346,183

Creditors

Amounts falling due after more than one year

6

(80,671

)

(131,891

)

Provisions for liabilities

(104,003

)

(89,881

)

Net assets

2,378,241

2,124,411

Capital and reserves

Called up share capital

1

1

Retained earnings

2,378,240

2,124,410

2,378,241

2,124,411

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th November 2025 and were signed by:

R C Sievwright - Director

1.	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, except for certain items recorded at fair value.

Going Concern

After due consideration of all relevant factors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the director's report and accounts.

Critical accounting judgements and key sources of estimation uncertainty

In application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not really apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Fixed assets

In determining the depreciation rate, management's best estimate of the expected useful economic life of each asset class has been used in determining the rate applied.

Impairment of trade debtors

The company makes an estimate of the recoverable value of trade debtors. When assessing the impairment of trade debtors, management considers factors including the ageing profile of debtors and historical experience.

Revenue recognition

The company recognises revenue to the extent that it obtains the right to consideration in exchange for its performance under the contract. The right to consideration arises when some, but not necessarily all, of the contractual obligations have been fulfilled.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Freehold land is not depreciated.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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, except where there is a separate project that is technically, commercially and financially viable. In these cases the identifiable expenditure is deferred and amortised over the period the company expects to benefit.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2.	Employees and directors

The average number of employees during the year was 35 (2024 - 32 ) .

3.	Tangible fixed assets

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Cost

At 1st April 2024

1,610

302,873

230,765

535,248

Additions

-

30,531

59,043

89,574

Disposals

-

-

(29,105

)

(29,105

)

At 31st March 2025

1,610

333,404

260,703

595,717

Depreciation

At 1st April 2024

22

94,389

95,567

189,978

Charge for year

254

41,328

44,275

85,857

Eliminated on disposal

-

-

(22,630

)

(22,630

)

At 31st March 2025

276

135,717

117,212

253,205

Net book value

At 31st March 2025

1,334

197,687

143,491

342,512

At 31st March 2024

1,588

208,484

135,198

345,270

4.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

1,722,585

2,201,300

Other debtors

177,204

166,686

1,899,789

2,367,986

5.

Creditors: amounts falling due within one year

2025

2024

£

£

Hire purchase contracts (see note 7)

79,488

82,801

Trade creditors

1,071,786

817,506

Amounts owed to associates

1,708,497

1,890,244

Taxation and social security

301,932

347,870

Other creditors

80,479

41,493

3,242,182

3,179,914

6.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Hire purchase contracts (see note 7)

80,671

131,891

7.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

79,488

82,801

Between one and five years

80,671

131,891

160,159

214,692

Non-cancellable

operating leases

2025

2024

£

£

Within one year

190,000

190,000

Between one and five years

760,000

760,000

In more than five years

598,750

788,750

1,548,750

1,738,750

The amount of non-cancellable operating lease payments recognised as an expense during the year was £170,833 (2024 -170,833)

8.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

160,159

214,692

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Will Amos (Senior Statutory Auditor)

for and on behalf of Hawsons Chartered Accountants

10.	Ultimate controlling party

The ultimate controlling party is Trimax Holdings Limited, its registered office is: KPMG, 247 Cameron Road, Tauranga, 3110, New Zealand and its principle place of business is: 70 Maleme Street, 3112 Tauranga, New Zealand. Trimax Holdings Limited is the parent undertaking of the group to consolidate these financial statements. Consolidated accounts can be obtained from the ultimate controlling company's address.