IRIS Accounts Production v24.1.0.578 08107628 Board of Directors 1.11.22 31.10.23 31.10.23 19.4.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081076282022-10-31081076282023-10-31081076282022-11-012023-10-31081076282021-10-31081076282021-11-012022-10-31081076282022-10-3108107628ns15:EnglandWales2022-11-012023-10-3108107628ns14:PoundSterling2022-11-012023-10-3108107628ns10:Director12022-11-012023-10-3108107628ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3108107628ns10:SmallEntities2022-11-012023-10-3108107628ns10:Audited2022-11-012023-10-3108107628ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3108107628ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3108107628ns10:FullAccounts2022-11-012023-10-3108107628ns10:Director22022-11-012023-10-3108107628ns10:Director32022-11-012023-10-3108107628ns10:RegisteredOffice2022-11-012023-10-3108107628ns5:CurrentFinancialInstruments2023-10-3108107628ns5:CurrentFinancialInstruments2022-10-3108107628ns5:ShareCapital2023-10-3108107628ns5:ShareCapital2022-10-3108107628ns5:RetainedEarningsAccumulatedLosses2023-10-3108107628ns5:RetainedEarningsAccumulatedLosses2022-10-3108107628ns5:PlantMachinery2022-11-012023-10-3108107628ns5:PlantMachinery2022-10-3108107628ns5:PlantMachinery2023-10-3108107628ns5:PlantMachinery2022-10-3108107628ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3108107628ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31
REGISTERED NUMBER: 08107628 (England and Wales)















MEP RESOURCING LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






MEP RESOURCING LIMITED (REGISTERED NUMBER: 08107628)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MEP RESOURCING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: S Pendergast
B Leigh
P R Broderick





REGISTERED OFFICE: Unit A Telford Court
Chester Gates Business Park
Chester
CH1 6LT





REGISTERED NUMBER: 08107628 (England and Wales)





AUDITORS: DJH Mitten Clarke Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

MEP RESOURCING LIMITED (REGISTERED NUMBER: 08107628)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,315 1,937

CURRENT ASSETS
Debtors 5 625,722 619,433
Cash at bank 2,367 853
628,089 620,286
CREDITORS
Amounts falling due within one year 6 (623,254 ) (1,099,333 )
NET CURRENT ASSETS/(LIABILITIES) 4,835 (479,047 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,150

(477,110

)

PROVISIONS FOR LIABILITIES (368 ) (368 )
NET ASSETS/(LIABILITIES) 5,782 (477,478 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 5,482 (477,778 )
SHAREHOLDERS' FUNDS 5,782 (477,478 )

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 18 April 2024 and were signed on its behalf by:





S Pendergast - Director


MEP RESOURCING LIMITED (REGISTERED NUMBER: 08107628)

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


1. STATUTORY INFORMATION

MEP Resourcing Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08107628. The registered office is Unit A Telford Court, Chester Gates Business Park, Chester, Cheshire, CH1 6LT.

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.

The directors continue to monitor and where possible reduce costs and review the ongoing working capital to ensure that they can continue trading within the available facilities. The directors have considered the existing sources of business funding, including Group facilities, and have no reason to believe that they will not continue to be available on similar terms for the next 12 months, and are satisfied that they will be able to operate within these facilities.

The directors believe that the company is well placed to face the risks at these challenging times and therefore continues to adopt a going concern basis in preparing these financial statements.

Significant judgements and estimates
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts. rebates, value added tax and other sales taxes. Revenue is recognised when the services have been provided to the customer.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 33.3% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


MEP RESOURCING LIMITED (REGISTERED NUMBER: 08107628)

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


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined benefit contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short term liquid
investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

MEP RESOURCING LIMITED (REGISTERED NUMBER: 08107628)

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


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 November 2022 11,450
Additions 363
At 31 October 2023 11,813
DEPRECIATION
At 1 November 2022 9,513
Charge for year 985
At 31 October 2023 10,498
NET BOOK VALUE
At 31 October 2023 1,315
At 31 October 2022 1,937

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 187,015 374,043
Amounts owed by group undertakings 245,997 238,485
Other debtors 192,710 6,905
625,722 619,433

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,598 1,109
Amounts owed to group undertakings 447,957 1,057,506
Taxation and social security 162,823 26,151
Other creditors 9,876 14,567
623,254 1,099,333

7. SECURED DEBTS

RBS Invoice Finance Ltd have a fixed and floating charge on all company assets.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Taylor (Senior Statutory Auditor)
for and on behalf of DJH Mitten Clarke Audit Limited

MEP RESOURCING LIMITED (REGISTERED NUMBER: 08107628)

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


9. RELATED PARTY DISCLOSURES

Group undertakings
During the course of the year, received recharged costs totalling £52,342 (2022: £159,384) from group undertakings.

Included in Debtors at the year end are amounts due from related parties totalling £245,997 (2022: £238,485).

Included in Creditors at the year end are amounts due to related parties totalling £981,561 (2022: £1,057,506).

10. ULTIMATE CONTROLLING PARTY

At the year end the immediate and ultimate parent company and controlling party was Bluestones Investments Group Limited, a company registered in England and Wales. The results of the company are included within the consolidated financial statements of Bluestones Investment Group Limited, copies of which can be obtained from Companies House. The company's registered office is Unit A Telford Court, Chester Gates Business Park, Chester, Cheshire, CH1 6LT.