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REGISTERED NUMBER: SC312898 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

MECFAB Limited

MECFAB Limited (Registered number: SC312898)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MECFAB Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: P Birnie





SECRETARY:





REGISTERED OFFICE: 14 Crannog Lane
Lochavullin Lane
Oban
Argyll
PA34 4HB





REGISTERED NUMBER: SC312898 (Scotland)





ACCOUNTANTS: A.G.L. Accountancy Services Limited
Flat 2
20 Harlow Moor Drive
Harrogate
North Yorkshire
HG2 0JX

MECFAB Limited (Registered number: SC312898)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 20,000
Tangible assets 5 40,145 43,181
60,145 63,181

CURRENT ASSETS
Stocks 5,000 4,782
Debtors 6 11,611 11,231
Cash at bank 47,942 88,440
64,553 104,453
CREDITORS
Amounts falling due within one year 7 25,022 49,621
NET CURRENT ASSETS 39,531 54,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,676

118,013

CREDITORS
Amounts falling due after more than one
year

8

(29,167

)

(39,167

)

PROVISIONS FOR LIABILITIES - (6,073 )
NET ASSETS 70,509 72,773

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 9 21,700 21,700
Retained earnings 48,609 50,873
SHAREHOLDERS' FUNDS 70,509 72,773

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MECFAB Limited (Registered number: SC312898)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2024 and were signed by:





P Birnie - Director


MECFAB Limited (Registered number: SC312898)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

MECFAB Limited is a private company, limited by shares , registered in Scotland. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on cost and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

MECFAB Limited (Registered number: SC312898)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

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 1 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 20,000
At 31 December 2022 20,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 98,205
Additions 10,350
Disposals (7,200 )
At 31 December 2023 101,355
DEPRECIATION
At 1 January 2023 55,024
Charge for year 9,701
Eliminated on disposal (3,515 )
At 31 December 2023 61,210
NET BOOK VALUE
At 31 December 2023 40,145
At 31 December 2022 43,181

MECFAB Limited (Registered number: SC312898)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 7,539 9,805
Other debtors 4,072 1,426
11,611 11,231

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 11,399 10,142
Taxation and social security 7,647 10,693
Other creditors 5,976 28,786
25,022 49,621

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 29,167 39,167

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 21,700