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REGISTERED NUMBER: 03443166 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MEGAN MECHANICAL SERVICES LTD

MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEGAN MECHANICAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P A G Dunphy
G J Ley





REGISTERED OFFICE: Unit 4 Blackbushe Business Park
Yateley
Hampshire
GU46 6GA





REGISTERED NUMBER: 03443166 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 220,253 82,943
Investments 5 56,002 56,002
276,255 138,945

CURRENT ASSETS
Debtors 6 1,989,617 1,735,519
Cash at bank and in hand 679,427 827,563
2,669,044 2,563,082
CREDITORS
Amounts falling due within one year 7 1,569,119 1,438,681
NET CURRENT ASSETS 1,099,925 1,124,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,376,180

1,263,346

CREDITORS
Amounts falling due after more than one
year

8

(108,334

)

(163,253

)

PROVISIONS FOR LIABILITIES (8,159 ) (13,345 )
NET ASSETS 1,259,687 1,086,748

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,258,687 1,085,748
SHAREHOLDERS' FUNDS 1,259,687 1,086,748

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

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

MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





G J Ley - Director


MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

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


1. STATUTORY INFORMATION

Megan Mechanical Services 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. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Turnover 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 turnover 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.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, turnover is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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:

Leasehold improvements20% reducing balance
Fixtures and fittings25% reducing balance
Computers33% straight line
Motor vehicles20% 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.


MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

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 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.

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.

Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.

Employee benefits
Short-term employees' benefits are recognised as an expense in the period in which they are incurred.

Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss, unless it’s carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2022 143,469
Additions 208,082
Disposals (57,055 )
At 31 October 2023 294,496
DEPRECIATION
At 1 November 2022 60,526
Charge for year 31,873
Eliminated on disposal (18,156 )
At 31 October 2023 74,243
NET BOOK VALUE
At 31 October 2023 220,253
At 31 October 2022 82,943

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 November 2022
and 31 October 2023 56,002
NET BOOK VALUE
At 31 October 2023 56,002
At 31 October 2022 56,002

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,772,291 1,517,626
Other debtors 217,326 217,893
1,989,617 1,735,519

MEGAN MECHANICAL SERVICES LTD (REGISTERED NUMBER: 03443166)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 209,545 189,236
Trade creditors 617,659 461,605
Amounts owed to group undertakings 161,400 75,000
Taxation and social security 179,309 90,478
Other creditors 401,206 622,362
1,569,119 1,438,681

Within creditors there is an overdraft facility of £159,545 secured by a fixed and floating charge over the company assets.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 108,334 163,253

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Share capital 1 1 1,000 1,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£ £
G J Ley
Balance outstanding at start of year (7,959 ) (38,568 )
Amounts advanced (268,053 ) -
Amounts repaid - 30,609
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (276,012 ) (7,959 )