Registered number
06763174
MAP Engineers Ltd.
Abbreviated Accounts
30 November 2023
MAP Engineers Ltd.
Registered number: 06763174
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 63,831 134,563
Current assets
Debtors 4 1,456,021 1,583,102
Cash at bank and in hand 346,586 336,647
1,802,607 1,919,749
Creditors: amounts falling due within one year 5 (1,199,985) (706,872)
Net current assets 602,622 1,212,877
Total assets less current liabilities 666,453 1,347,440
Creditors: amounts falling due after more than one year 6 (145,833) (191,662)
Net assets 520,620 1,155,778
Capital and reserves
Called up share capital 100 100
Profit and loss account 520,520 1,155,678
Shareholders' funds 520,620 1,155,778
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Wood
Director
Approved by the board on 8 March 2024
MAP Engineers Ltd.
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 18 18
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 55,710 224,385 280,095
Additions - 9,000 9,000
Disposals - (51,021) (51,021)
At 30 November 2023 55,710 182,364 238,074
Depreciation
At 1 December 2022 43,302 102,230 145,532
Charge for the year 2,481 26,230 28,711
At 30 November 2023 45,783 128,460 174,243
Net book value
At 30 November 2023 9,927 53,904 63,831
At 30 November 2022 12,408 122,155 134,563
4 Debtors 2023 2022
£ £
Trade debtors 1,048,021 1,375,102
Amounts owed by group undertakings and undertakings in which the company has a participating interest 208,000 208,000
Other debtors 200,000 -
1,456,021 1,583,102
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 89,808 -
Trade creditors 831,212 617,556
Corporation tax 64,285 53,420
Other taxes and social security costs 5,480 35,896
Other creditors 209,200 -
1,199,985 706,872
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 145,833 191,662
7 Other information
MAP Engineers Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
277 Stockport Road
Ashton U Lyne
Lancashire
OL7 0NT
MAP Engineers Ltd. 06763174 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2022 C Wood No description of principal activity 06763174 2021-12-01 2022-11-30 06763174 core:WithinOneYear 2022-11-30 06763174 core:AfterOneYear 2022-11-30 06763174 core:ShareCapital 2022-11-30 06763174 core:RetainedEarningsAccumulatedLosses 2022-11-30 06763174 2022-12-01 2023-11-30 06763174 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06763174 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 06763174 bus:Director40 2022-12-01 2023-11-30 06763174 1 2022-12-01 2023-11-30 06763174 2 2022-12-01 2023-11-30 06763174 core:PlantMachinery 2022-12-01 2023-11-30 06763174 core:Vehicles 2022-12-01 2023-11-30 06763174 countries:England 2022-12-01 2023-11-30 06763174 bus:FRS102 2022-12-01 2023-11-30 06763174 bus:FullAccounts 2022-12-01 2023-11-30 06763174 2023-11-30 06763174 core:WithinOneYear 2023-11-30 06763174 core:AfterOneYear 2023-11-30 06763174 core:ShareCapital 2023-11-30 06763174 core:RetainedEarningsAccumulatedLosses 2023-11-30 06763174 core:PlantMachinery 2023-11-30 06763174 core:Vehicles 2023-11-30 06763174 2022-11-30 06763174 core:PlantMachinery 2022-11-30 06763174 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure