MCH Solutions Limited SC663486 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of construction related activities. Digita Accounts Production Advanced 6.30.9574.0 true true SC663486 2022-07-01 2023-06-30 SC663486 2023-06-30 SC663486 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC663486 core:ShareCapital 2023-06-30 SC663486 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 SC663486 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 SC663486 core:CurrentFinancialInstruments 2023-06-30 SC663486 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC663486 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 SC663486 core:FurnitureFittingsToolsEquipment 2023-06-30 SC663486 core:MotorVehicles 2023-06-30 SC663486 core:OtherPropertyPlantEquipment 2023-06-30 SC663486 bus:SmallEntities 2022-07-01 2023-06-30 SC663486 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC663486 bus:FullAccounts 2022-07-01 2023-06-30 SC663486 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC663486 bus:RegisteredOffice 2022-07-01 2023-06-30 SC663486 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 SC663486 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC663486 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 SC663486 core:MotorVehicles 2022-07-01 2023-06-30 SC663486 core:OfficeEquipment 2022-07-01 2023-06-30 SC663486 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 SC663486 core:PlantMachinery 2022-07-01 2023-06-30 SC663486 countries:Scotland 2022-07-01 2023-06-30 SC663486 2022-06-30 SC663486 core:FurnitureFittingsToolsEquipment 2022-06-30 SC663486 core:MotorVehicles 2022-06-30 SC663486 core:OtherPropertyPlantEquipment 2022-06-30 SC663486 2021-07-01 2022-06-30 SC663486 2022-06-30 SC663486 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC663486 core:ShareCapital 2022-06-30 SC663486 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-06-30 SC663486 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-06-30 SC663486 core:CurrentFinancialInstruments 2022-06-30 SC663486 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 SC663486 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 SC663486 core:FurnitureFittingsToolsEquipment 2022-06-30 SC663486 core:MotorVehicles 2022-06-30 SC663486 core:OtherPropertyPlantEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: SC663486

MCH Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

MCH Solutions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

MCH Solutions Limited

(Registration number: SC663486)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

28,270

53,272

Current assets

 

Stocks

5

2,425

2,235

Debtors

6

4,779

1,424

Cash at bank and in hand

 

15,094

1,589

 

22,298

5,248

Creditors: Amounts falling due within one year

7

(73,062)

(53,209)

Net current liabilities

 

(50,764)

(47,961)

Total assets less current liabilities

 

(22,494)

5,311

Creditors: Amounts falling due after more than one year

7

-

(20,369)

Net liabilities

 

(22,494)

(15,058)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(22,594)

(15,158)

Shareholders' deficit

 

(22,494)

(15,058)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2023
 

.........................................
M E C McHugh
Company secretary and director

 

MCH Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Summit House
4-5 Mitchell Street
Edinburgh
EH6 7BD

These financial statements were authorised for issue by the director on 29 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the company relies on the continued support of the director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% straight line

Office equipment

15% straight line

Motor vehicle

20% reducing balance

 

MCH Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

MCH Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

3,786

54,560

15,165

73,511

Additions

1,157

-

2,377

3,534

Disposals

-

(27,314)

-

(27,314)

At 30 June 2023

4,943

27,246

17,542

49,731

Depreciation

At 1 July 2022

904

16,143

3,192

20,239

Charge for the year

741

3,313

2,631

6,685

Eliminated on disposal

-

(5,463)

-

(5,463)

At 30 June 2023

1,645

13,993

5,823

21,461

Carrying amount

At 30 June 2023

3,298

13,253

11,719

28,270

At 30 June 2022

2,882

38,417

11,973

53,272

 

MCH Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Stocks

2023
£

2022
£

Other inventories

2,425

2,235

6

Debtors

Current

2023
£

2022
£

Trade debtors

4,779

-

Other debtors

-

1,424

 

4,779

1,424

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

5,556

Taxation and social security

 

6,114

-

Other creditors

 

1,060

1,590

Directors loan

 

65,888

46,063

 

73,062

53,209

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

-

20,369

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

-

20,369

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

-

5,556