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REGISTERED NUMBER: 10470641 (England and Wales)














SITU MECHANICAL & ELECTRICAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






SITU MECHANICAL & ELECTRICAL LIMITED (REGISTERED NUMBER: 10470641)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

SITU MECHANICAL & ELECTRICAL LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: M P Fraser
A J Read
G P Williams





REGISTERED OFFICE: 17 Pebble Close
Tamworth
B77 4RD





REGISTERED NUMBER: 10470641 (England and Wales)





ACCOUNTANTS: Equus Miller Limited
Chartered Certified Accountants
Brook House
47 High Street
Henley in Arden
Warwickshire
B95 5AA

SITU MECHANICAL & ELECTRICAL LIMITED (REGISTERED NUMBER: 10470641)

BALANCE SHEET
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,930 21,128

CURRENT ASSETS
Stocks 20,000 -
Debtors 5 919,433 469,590
Cash at bank 3,730 94
943,163 469,684
CREDITORS
Amounts falling due within one year 6 719,067 354,493
NET CURRENT ASSETS 224,096 115,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,026

136,319

CREDITORS
Amounts falling due after more than one
year

7

(38,541

)

(51,042

)

PROVISIONS FOR LIABILITIES (4,233 ) (777 )
NET ASSETS 198,252 84,500

CAPITAL AND RESERVES
Called up share capital 9 33 33
Retained earnings 10 198,219 84,467
SHAREHOLDERS' FUNDS 198,252 84,500

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 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 29 February 2024 and were signed on its behalf by:




G P Williams - Director


SITU MECHANICAL & ELECTRICAL LIMITED (REGISTERED NUMBER: 10470641)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Situ Mechanical & Electrical 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.

As detailed within note 12, Other Financial Commitments, the company has provided cross guarantees to a liability contained within the parent company's accounts. The Directors are confident that the group will be able to meet it's financial commitments and accordingly consider the going concern basis of preparation to be appropriate.

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

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date.

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 - 25% on reducing balance
Fixtures and fittings - 33% on cost
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.

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.

SITU MECHANICAL & ELECTRICAL LIMITED (REGISTERED NUMBER: 10470641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 8,871 696 20,778 275 30,620
Additions 712 304 - 2,746 3,762
At 31 May 2023 9,583 1,000 20,778 3,021 34,382
DEPRECIATION
At 1 June 2022 3,881 232 5,195 184 9,492
Charge for year 1,426 333 5,194 1,007 7,960
At 31 May 2023 5,307 565 10,389 1,191 17,452
NET BOOK VALUE
At 31 May 2023 4,276 435 10,389 1,830 16,930
At 31 May 2022 4,990 464 15,583 91 21,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 670,800 303,353
Amounts owed by associates 28 85,642
Directors' loan accounts 53,720 -
VAT 194,885 80,595
919,433 469,590

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 12,500 12,500
Trade creditors 231,678 169,777
Amounts owed to associates 255,702 88,129
Corporation tax payable 58,387 34,774
Social security & other taxes 79,663 44,428
Other creditors 52,211 1,085
Accrued expenses 28,926 3,800
719,067 354,493

SITU MECHANICAL & ELECTRICAL LIMITED (REGISTERED NUMBER: 10470641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans - 1-2 years 12,500 12,500
Bank loans - 2-5 years 26,041 38,542
38,541 51,042

8. SECURED DEBTS

The following secured debts are included within creditors:

31/5/23 31/5/22
£    £   
Bank loans 51,041 63,542

Loans and overdrafts are secured by way of a fixed and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
85 Ordinary A 0.333 3 28 28
15 Ordinary B 0.333 3 5 5
33 33

10. RESERVES
Retained
earnings
£   

At 1 June 2022 84,467
Profit for the year 113,752
At 31 May 2023 198,219

11. OTHER FINANCIAL COMMITMENTS

The company is a cross guarantor of a liability that has been provided for within the financial statements of the company's parent company, The Situ Group Limited. The total liability at 31 May 2023 amounted to £700,000 (31 May 2022 : £950,000) and a further £250,000 has been paid in November 2023. The balance is payable in instalments with the final balance being due on or before the 28 November 2025.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31/5/23 31/5/22
£    £   
A J Read
Balance outstanding at start of year - (117 )
Amounts advanced 53,720 46,785
Amounts repaid - (46,668 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,720 -

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SITU MECHANICAL & ELECTRICAL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Situ Mechanical & Electrical Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Situ Mechanical & Electrical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Situ Mechanical & Electrical Limited and state those matters that we have agreed to state to the Board of Directors of Situ Mechanical & Electrical Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Situ Mechanical & Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Situ Mechanical & Electrical Limited. You consider that Situ Mechanical & Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Situ Mechanical & Electrical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Equus Miller Limited
Chartered Certified Accountants
Brook House
47 High Street
Henley in Arden
Warwickshire
B95 5AA


29 February 2024