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MNL ENGINEERING SERVICES LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2023






MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MNL ENGINEERING SERVICES LIMITED

Company Information
for the year ended 31st December 2023







DIRECTORS: M Roberts
P T Roberts
P Roberts





REGISTERED OFFICE: Empress Works
2 Roberts Street
Liverpool
L3 7AS





REGISTERED NUMBER: 06984903 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,586 43,080
Investments 5 838,689 838,689
865,275 881,769

CURRENT ASSETS
Stocks 10,000 8,000
Debtors 6 494,325 265,083
Cash at bank 451,364 344,827
955,689 617,910
CREDITORS
Amounts falling due within one year 7 233,077 98,121
NET CURRENT ASSETS 722,612 519,789
TOTAL ASSETS LESS CURRENT LIABILITIES 1,587,887 1,401,558

CAPITAL AND RESERVES
Called up share capital 101 101
Revaluation reserve 8 338,689 338,689
Retained earnings 1,249,097 1,062,768
SHAREHOLDERS' FUNDS 1,587,887 1,401,558

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)

Balance Sheet - continued
31st December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th April 2024 and were signed on its behalf by:





M Roberts - Director


MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

MNL Engineering Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 Statement of Income and Retained Earnings, 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.

MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to / from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023
and 31st December 2023 174,295 8,099 136,934 10,660 329,988
DEPRECIATION
At 1st January 2023 159,719 8,099 108,430 10,660 286,908
Charge for year 3,975 - 12,519 - 16,494
At 31st December 2023 163,694 8,099 120,949 10,660 303,402
NET BOOK VALUE
At 31st December 2023 10,601 - 15,985 - 26,586
At 31st December 2022 14,576 - 28,504 - 43,080

MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st January 2023
and 31st December 2023 838,689
NET BOOK VALUE
At 31st December 2023 838,689
At 31st December 2022 838,689

Cost or valuation at 31st December 2023 is represented by:

Other
investments
£   
Valuation in 2017 838,689

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 380,847 191,202
Amounts owed by group undertakings 14 14
Other debtors 113,464 73,867
494,325 265,083

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,911 13,735
Taxation and social security 196,474 62,278
Other creditors 22,692 22,108
233,077 98,121

8. RESERVES
Revaluation
reserve
£   
At 1st January 2023
and 31st December 2023 338,689

MNL ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 06984903)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
P T Roberts
Balance outstanding at start of year 21,936 16,410
Amounts advanced 34,951 21,936
Amounts repaid (21,936 ) (16,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,951 21,936

P Roberts
Balance outstanding at start of year 21,936 16,410
Amounts advanced 34,951 21,936
Amounts repaid (21,936 ) (16,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,951 21,936

M Roberts
Balance outstanding at start of year 21,936 16,410
Amounts advanced 34,951 21,936
Amounts repaid (21,936 ) (16,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,951 21,936