Company registration number 07296385 (England and Wales)
UNITED MECHANICAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
UNITED MECHANICAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
UNITED MECHANICAL LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
27,083
30,333
Tangible assets
4
119,850
95,810
146,933
126,143
Current assets
Stocks
15,000
34,157
Debtors
5
893,986
1,100,028
Cash at bank and in hand
163,440
10,281
1,072,426
1,144,466
Creditors: amounts falling due within one year
6
(769,688)
(700,825)
Net current assets
302,738
443,641
Total assets less current liabilities
449,671
569,784
Creditors: amounts falling due after more than one year
7
(174,482)
(179,708)
Provisions for liabilities
-
0
(17,768)
Net assets
275,189
372,308
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
275,089
372,208
Total equity
275,189
372,308

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

UNITED MECHANICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 November 2023 and are signed on its behalf by:
Mr T  Mills
Director
Company registration number 07296385 (England and Wales)
UNITED MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

United Mechanical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9B, Old Street, Bailie Gate Industrial Estate, Sturminster Marshall, Dorset, BH21 4DB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
33% straight line
Computers
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

UNITED MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Taxation
Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
21
20
UNITED MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
32,500
Amortisation and impairment
At 1 July 2022
2,167
Amortisation charged for the year
3,250
At 30 June 2023
5,417
Carrying amount
At 30 June 2023
27,083
At 30 June 2022
30,333
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2022
27,125
13,308
15,192
99,941
155,566
Additions
-
0
84
133
144,461
144,678
Disposals
-
0
-
0
-
0
(80,774)
(80,774)
At 30 June 2023
27,125
13,392
15,325
163,628
219,470
Depreciation and impairment
At 1 July 2022
21,391
6,866
8,596
22,903
59,756
Depreciation charged in the year
1,442
3,408
3,328
31,686
39,864
At 30 June 2023
22,833
10,274
11,924
54,589
99,620
Carrying amount
At 30 June 2023
4,292
3,118
3,401
109,039
119,850
At 30 June 2022
5,734
6,442
6,596
77,038
95,810
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
745,993
832,182
Amounts owed by group undertakings
111,191
103,769
Other debtors
36,802
164,077
893,986
1,100,028
UNITED MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
144,352
130,223
Trade creditors
410,679
478,096
Taxation and social security
143,882
36,814
Other creditors
70,775
55,692
769,688
700,825

One bank loan is secured by a personal guarantee from the director.

 

One bank loan is secured by a debenture including a fixed and floating charge over the assets of the company.

 

 

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
138,313
153,620
Other creditors
36,169
26,088
174,482
179,708

The bank loan is secured by a debenture including a fixed and floating charge over the assets of the company.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
18,645
69,045
Between two and five years
44,800
55,529
In over five years
-
0
7,917
63,445
132,491
9
Parent company

The immediate controlling party is Mills Holdings Limited, which owns 100% of the company's issued share capital. The registered office of Mills Holdings Limited is Unit 9b Bailie Gate Industrial Estate, Sturminster Marshall, Wimborne, Dorset, BH21 4DB.

 

The ultimate controlling party is Mr T Mills.

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