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REGISTERED NUMBER: 05060603 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MES SYSTEMS LIMITED

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MES SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: R J Morgan
A L Batchelor
A K Morgan





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 05060603 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,179 23,871
Tangible assets 5 119,801 121,755
141,980 145,626

CURRENT ASSETS
Stocks 161,419 95,865
Debtors 6 550,471 600,870
Cash at bank and in hand 104,067 116,328
815,957 813,063
CREDITORS
Amounts falling due within one year 7 395,532 346,829
NET CURRENT ASSETS 420,425 466,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,405

611,860

CREDITORS
Amounts falling due after more than one
year

8

(228,779

)

(328,208

)

PROVISIONS FOR LIABILITIES (22,762 ) (23,133 )
NET ASSETS 310,864 260,519

CAPITAL AND RESERVES
Called up and paid share capital 2 2
Retained earnings 310,862 260,517
310,864 260,519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





R J Morgan - Director


MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Mes Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 etc - 25% on reducing balance and 10% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2022 101,000 2,125 103,125
Additions - 3,000 3,000
At 28 February 2023 101,000 5,125 106,125
AMORTISATION
At 1 March 2022 78,100 1,154 79,254
Charge for year 4,450 242 4,692
At 28 February 2023 82,550 1,396 83,946
NET BOOK VALUE
At 28 February 2023 18,450 3,729 22,179
At 28 February 2022 22,900 971 23,871

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 205,500
Additions 26,843
Disposals (19,999 )
At 28 February 2023 212,344
DEPRECIATION
At 1 March 2022 83,745
Charge for year 26,800
Eliminated on disposal (18,002 )
At 28 February 2023 92,543
NET BOOK VALUE
At 28 February 2023 119,801
At 28 February 2022 121,755

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 223,365 191,952
Amounts owed by group undertakings 318,541 354,530
Other debtors 8,565 54,388
550,471 600,870

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 19,603 19,668
Trade creditors 81,606 82,770
Taxation and social security 121,382 98,186
Other creditors 172,941 146,205
395,532 346,829

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 6,006 25,314
Other creditors 222,773 302,894
228,779 328,208

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 134,739 222,773

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 302,894 370,000

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 not to disclose related party transactions with wholly owned members of the group