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REGISTERED NUMBER: 08578158 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

MEC INDUSTRIAL ENGINEERING LIMITED

MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEC INDUSTRIAL ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: M Walker
Mrs R L Walker





REGISTERED OFFICE: 45 Bridge Street
Usk
NP15 1BQ





REGISTERED NUMBER: 08578158 (England and Wales)





ACCOUNTANTS: Paul Munson & Co
Limited Liability Partnership
45 Bridge Street
Usk
Monmouthshire
NP15 1BQ

MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 40,000
Tangible assets 5 176,003 161,223
206,003 201,223

CURRENT ASSETS
Stocks 33,485 30,725
Debtors 6 267,994 461,782
Cash at bank 196,680 32,153
498,159 524,660
CREDITORS
Amounts falling due within one year 7 285,455 310,094
NET CURRENT ASSETS 212,704 214,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

418,707

415,789

CREDITORS
Amounts falling due after more than
one year

8

(16,032

)

(52,485

)

PROVISIONS FOR LIABILITIES (33,441 ) (30,629 )
NET ASSETS 369,234 332,675

MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)

BALANCE SHEET - continued
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 100,000 100,000
Retained earnings 269,134 232,575
SHAREHOLDERS' FUNDS 369,234 332,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

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 Board of Directors and authorised for issue on 8th March 2024 and were signed on its behalf by:





M Walker - Director


MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

MEC Industrial Engineering 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 2013, is stated at cost and is not amortised.

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.

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.


MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued
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.

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 19 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 100,000
AMORTISATION
At 1st July 2022 60,000
Charge for year 10,000
At 30th June 2023 70,000
NET BOOK VALUE
At 30th June 2023 30,000
At 30th June 2022 40,000

MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2022 386,339
Additions 58,549
Disposals (2,000 )
At 30th June 2023 442,888
DEPRECIATION
At 1st July 2022 225,116
Charge for year 42,489
Eliminated on disposal (720 )
At 30th June 2023 266,885
NET BOOK VALUE
At 30th June 2023 176,003
At 30th June 2022 161,223

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 267,994 461,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,177 32,620
Hire purchase contracts 2,825 5,581
Trade creditors 138,890 170,417
Taxation and social security 95,204 97,855
Other creditors 3,359 3,621
285,455 310,094

MEC INDUSTRIAL ENGINEERING LIMITED (REGISTERED NUMBER: 08578158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,800 49,089
Hire purchase contracts - 2,825
Other creditors 1,232 571
16,032 52,485