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REGISTERED NUMBER: 04416684 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

S.I. MECHANICAL LIMITED

S.I. MECHANICAL LIMITED (REGISTERED NUMBER: 04416684)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S.I. MECHANICAL LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTOR: S Iveson





SECRETARY: P Iveson





REGISTERED OFFICE: 1 Darwin Court, Darwin Drive
Sherwood Energy Village
New Ollerton
Newark
Nottinghamshire
NG22 9FE





REGISTERED NUMBER: 04416684 (England and Wales)





ACCOUNTANTS: Langham Carter
The E Centre Darwin Drive
Sherwood Energy Village
New Ollerton
Newark
Nottinghamshire
NG22 9GW

S.I. MECHANICAL LIMITED (REGISTERED NUMBER: 04416684)

BALANCE SHEET
28 February 2023

28.2.22 28.2.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
75,076 Tangible assets 5 85,833
75,076 85,833

CURRENT ASSETS
40,500 Stocks 45,628
79,501 Debtors 6 177,494
222,031 Cash at bank 310,925
342,032 534,047
CREDITORS
45,547 Amounts falling due within one year 7 78,625
296,485 NET CURRENT ASSETS 455,422
371,561 TOTAL ASSETS LESS CURRENT
LIABILITIES

541,255

CAPITAL AND RESERVES
1 Called up share capital 1
371,560 Retained earnings 541,254
371,561 SHAREHOLDERS' FUNDS 541,255

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 director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2023 and were signed by:




S Iveson - Director


S.I. MECHANICAL LIMITED (REGISTERED NUMBER: 04416684)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

S.I. Mechanical 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.

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 in 2006, is being amortised evenly over its estimated useful life of ten 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.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 Income Statement, 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.

S.I. MECHANICAL LIMITED (REGISTERED NUMBER: 04416684)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 28,000
AMORTISATION
At 1 March 2022
and 28 February 2023 28,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 March 2022 149,567 93,970 10,111 42,669 2,817
Additions 51,529 8,435 14,499 28,595 -
Disposals (30,974 ) - - (30,974 ) -
At 28 February 2023 170,122 102,405 24,610 40,290 2,817
DEPRECIATION
At 1 March 2022 74,491 50,866 8,139 13,145 2,341
Charge for year 20,019 7,731 2,470 9,342 476
Eliminated on disposal (10,221 ) - - (10,221 ) -
At 28 February 2023 84,289 58,597 10,609 12,266 2,817
NET BOOK VALUE
At 28 February 2023 85,833 43,808 14,001 28,024 -
At 28 February 2022 75,076 43,104 1,972 29,524 476

S.I. MECHANICAL LIMITED (REGISTERED NUMBER: 04416684)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 177,494 79,166
Prepayments - 335
177,494 79,501

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 15,833 20,622
Tax 40,953 13,634
Social security and other taxes 15,505 4,560
Other creditors 773 1,360
Directors' current accounts 2,961 2,971
Accrued expenses 2,600 2,400
78,625 45,547