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REGISTERED NUMBER: 12091879 (England and Wales)





ME PROJECTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ME PROJECTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr L T Kemp
Mr K Haslam





REGISTERED OFFICE: Olive House
Blake Street
Mansfield Woodhouse
Nottinghamshire
NG19 9NT





REGISTERED NUMBER: 12091879 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,844 16,522

CURRENT ASSETS
Debtors 6 553,043 395,711
Cash at bank and in hand 134,959 144,049
688,002 539,760
CREDITORS
Amounts falling due within one year 7 382,974 340,841
NET CURRENT ASSETS 305,028 198,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,872

215,441

CREDITORS
Amounts falling due after more than one
year

8

(15,344

)

(27,003

)

PROVISIONS FOR LIABILITIES (4,461 ) -
NET ASSETS 303,067 188,438

CAPITAL AND RESERVES
Called up share capital 9 104 102
Retained earnings 302,963 188,336
SHAREHOLDERS' FUNDS 303,067 188,438

ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

BALANCE SHEET - continued
31 JULY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 8 April 2024 and were signed on its behalf by:





Mr L T Kemp - Director


ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

ME Projects Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of mechanical engineering in respect of heating and air conditioning goods and services provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

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
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


3. 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.

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.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 11 ) .

ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 6,279 6,858 12,050 6,618 31,805
Additions - 246 - 6,635 6,881
At 31 July 2023 6,279 7,104 12,050 13,253 38,686
DEPRECIATION
At 1 August 2022 2,424 2,224 6,969 3,666 15,283
Charge for year 578 912 1,271 2,798 5,559
At 31 July 2023 3,002 3,136 8,240 6,464 20,842
NET BOOK VALUE
At 31 July 2023 3,277 3,968 3,810 6,789 17,844
At 31 July 2022 3,855 4,634 5,081 2,952 16,522

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 172,137 208,301
Amounts owed by related parties 128,373 -
Amounts recoverable on contract 217,144 125,982
Other debtors 12,564 42,699
VAT 21,925 17,491
Prepayments and accrued income 900 1,238
553,043 395,711

ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,636 11,304
Trade creditors 313,641 212,200
Amounts owed to related parties - 26,240
Corporation tax 31,179 69,297
Social security and other taxes 21,052 8,906
Other creditors 246 -
Directors' current accounts 2,531 10,299
Accruals and deferred income 2,689 2,595
382,974 340,841

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 15,344 27,003

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
Value: £ £
100 Ordinary £1 100 100
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 -
1 Ordinary D £1 1 -

104 102

10. RELATED PARTY DISCLOSURES

During the year the company gave financial assistance of £128,373 (2022: received £26,240) to ME Holdings (Mansfield) Limited a company in which Mr L T Kemp and Mr K Haslam are both directors and shareholders.

ME PROJECTS LTD (REGISTERED NUMBER: 12091879)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


11. KEY MANAGEMENT

During the year £25,140 (2022: £19,790) was paid to the individuals considered as key management.