Marine Electrical Installations Limited SC226588 repairing and maintaining of electrical equipment false 1 January 2023 SC226588 2023-01-01 2023-12-31 SC226588 2022-12-31 SC226588 2023-12-31 SC226588 2022-01-01 2022-12-31 SC226588 2021-12-31 SC226588 2022-12-31 SC226588 frs102-bus:FRS102 2023-01-01 2023-12-31 SC226588 frs102-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC226588 frs102-bus:FullAccounts 2023-01-01 2023-12-31 SC226588 frs102-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC226588 frs102-bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 SC226588 frs102-core:CurrentFinancialInstruments 2023-12-31 SC226588 frs102-core:CurrentFinancialInstruments 2022-12-31 SC226588 frs102-core:ShareCapital 2023-12-31 SC226588 frs102-core:ShareCapital 2022-12-31 SC226588 frs102-core:OtherReservesSubtotal 2023-12-31 SC226588 frs102-core:OtherReservesSubtotal 2022-12-31 SC226588 frs102-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC226588 frs102-core:RetainedEarningsAccumulatedLosses 2022-12-31 SC226588 frs102-bus:Director1 2023-01-01 2023-12-31 SC226588 frs102-core:PlantMachinery 2023-01-01 2023-12-31 SC226588 frs102-core:PlantMachinery 2022-12-31 SC226588 frs102-core:PlantMachinery 2023-12-31 SC226588 frs102-core:PlantMachinery 2022-12-31 SC226588 frs102-core:Non-currentFinancialInstruments 2022-12-31 SC226588 frs102-core:Non-currentFinancialInstruments 2023-12-31 SC226588 frs102-core:DeferredTaxation 2023-12-31 SC226588 frs102-core:DeferredTaxation 2022-12-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
SC226588
Marine Electrical Installations Limited
Unaudited Accounts
for the year ended
31 December 2023

Marine Electrical Installations Limited
Accountant's Report

Report to the directors on the preparation of the unaudited statutory accounts of Marine Electrical Installations Limited for the year ended 31 December 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Marine Electrical Installations Limited for the year ended 31 December 2023 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://rulebook.accaglobal.com

We have not been instructed to carry out an audit or a review of the accounts of MARINE ELECTRICAL INSTALLATIONS 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 accounts.



................................

Premier Accounting
Chartered Certified Accountants

9B Dalrymple Court,
Kirkintilloch,
Glasgow,
G66 3AA

10 August 2024


Marine Electrical Installations Limited
Balance Sheet
as at 31 December 2023
Notes
2023
£
2022
£
Fixed assets
Tangible assets 3 40,320 29,912
Investments 4 126,006 118,815
166,326 148,727
Current assets
Stocks 5 16,852 19,069
Debtors 6 370,110 284,585
Cash at bank and in hand 260,668 165,954
647,630 469,608
Prepayments and accrued income: 1,340 1,512
Creditors: amounts falling due within one year 7 (131,314) (284,879)
Net current assets / (liabilities) 517,656 186,241
Total assets less current liabilities 683,982 334,968
Provisions for liabilities 8 (7,245) (12,719)
Accruals and deferred income (196,069) (160)
Total net assets (liabilities) 480,668 322,089
Capital and reserves
Called up share capital 100 100
Other reserves 11,813 22,339
Profit and loss account 468,755 299,650
Shareholders' funds 480,668 322,089

Marine Electrical Installations Limited
Balance Sheet
as at 31 December 2023



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

Mr J Hutchinson

Director


Approved by the board on 16 August 2024

Company Number: SC226588 (a Private Company Limited by Shares registered in Scotland)

Registered Office:

C/O Premier Accounting
9B Dalrymple Court
Kirkintilloch
Glasgow
G66 3AA
United Kingdom

Marine Electrical Installations Limited
Notes to the Accounts
for the year ended 31 December 2023

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Plant & machinery 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.
Deferred taxation
Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.
2. Employees
2023 2022
Average number of employees during the period 18 18

3. Tangible fixed assets
Plant & machinery Total
Cost or valuation £ £
At 1 January 2023 239,455 239,455
Additions 24,995 24,995
At 31 December 2023 264,450 264,450
Depreciation
At 1 January 2023 209,543 209,543
Charge for the period 14,587 14,587
At 31 December 2023 224,130 224,130
Net book value
At 31 December 2023 40,320 40,320
At 31 December 2022 29,912 29,912

4. Investments
Loans Total
£ £
Carrying amount at 1 January 2023 118,815 118,815
Additions 17,717 17,717
Revaluations (10,526) (10,526)
Carrying amount at 31 December 2023 126,006 126,006

5. Stocks
2023 2022
£ £
Work in progress 16,852 19,069
16,852 19,069

6. Debtors
2023 2022
£ £
Trade debtors 369,767 284,585
Other debtors 343 0
370,110 284,585

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank Loans & Overdrafts 1,781 0
Trade creditors 70,180 90,094
Taxation & social security 49,267 81,852
Other creditors 10,086 112,933
131,314 284,879

8. Provisions
2023 2022
£ £
Deferred tax 7,245 12,719
7,245 12,719

9. Related party disclosures

Controlling party
MEI Holdings Ltd is the ultimate Controlling Party.