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Registration number: 00985127

Mid-Anglia Project Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Mid-Anglia Project Engineering Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Mid-Anglia Project Engineering Limited

Company Information

Directors

K J Logue

G A Mansfield

Company secretary

M Logue

Registered office

Wetmore Road
Burton on Trent
Staffordshire
DE14 1SH

Accountants

Buckler Spencer Limited
Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

 

Mid-Anglia Project Engineering Limited

(Registration number: 00985127)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,189

2,918

Investment property

5

985,000

985,000

Other financial assets

6

114,359

114,359

 

1,101,548

1,102,277

Current assets

 

Debtors

7

9,781

13

Cash at bank and in hand

 

361,141

411,684

 

370,922

411,697

Creditors: Amounts falling due within one year

8

(122,314)

(139,117)

Net current assets

 

248,608

272,580

Total assets less current liabilities

 

1,350,156

1,374,857

Provisions for liabilities

(153,300)

(153,300)

Net assets

 

1,196,856

1,221,557

Capital and reserves

 

Called up share capital

9

900

900

Capital redemption reserve

100

100

Other reserves

517,402

517,402

Retained earnings

678,454

703,155

Shareholders' funds

 

1,196,856

1,221,557

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 April 2024 and signed on its behalf by:
 

 

Mid-Anglia Project Engineering Limited

(Registration number: 00985127)
Balance Sheet as at 31 July 2023

.........................................
K J Logue
Director

 

Mid-Anglia Project Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wetmore Road
Burton on Trent
Staffordshire
DE14 1SH

The principal place of business is:
Wetmore Road
Burton on Trent
Staffordshire
DE14 1SH

These financial statements were authorised for issue by the Board on 5 April 2024.

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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mid-Anglia Project Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 Machinery

25% Reducing Balance

Fixtures and Fittings

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined tri-annually by the directors due to the nature of the investment properties. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Mid-Anglia Project Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Mid-Anglia Project Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

41,566

78,148

167,175

286,889

At 31 July 2023

41,566

78,148

167,175

286,889

Depreciation

At 1 August 2022

39,328

77,468

167,175

283,971

Charge for the year

559

170

-

729

At 31 July 2023

39,887

77,638

167,175

284,700

Carrying amount

At 31 July 2023

1,679

510

-

2,189

At 31 July 2022

2,238

680

-

2,918

5

Investment properties

2023
£

At 1 August

985,000

At 31 July

985,000

Investment property was valued on an open market basis on 31 July 2020 by the directors.

6

Other financial assets (current and non-current)

The Fixed asset investments consist of:

Listed investments £1,191 (2022 £1,191)

Unlisted investments £113,168 (2022 - 113,168)

 

Mid-Anglia Project Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

debtors

Current

2023
£

2022
£

Trade debtors

9,184

-

Other debtors

597

13

 

9,781

13

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

29,600

28,800

Taxation and social security

7,466

30,869

Other creditors

85,248

79,448

122,314

139,117

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

900

900

900

900

       

10

Dividends

Any dividends declared in the period are disclosed in the Statement of Income and Retained Earnings.