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REGISTERED NUMBER: 02703334 (England and Wales)












MACHINERY ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






MACHINERY ENGINEERING LTD (REGISTERED NUMBER: 02703334)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MACHINERY ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr A Chandler
Mr D Wilson





REGISTERED OFFICE: c/o Atlas Ball & Bearing Co Ltd
Leamore Lane
Walsall
West Midlands
WS2 7DE





REGISTERED NUMBER: 02703334 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

MACHINERY ENGINEERING LTD (REGISTERED NUMBER: 02703334)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,956 17,944

CURRENT ASSETS
Stocks 96,279 90,059
Debtors 5 39,841 23,416
Cash at bank 1,500 -
137,620 113,475
CREDITORS
Amounts falling due within one year 6 189,999 88,574
NET CURRENT (LIABILITIES)/ASSETS (52,379 ) 24,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

(35,423

)

42,845

CAPITAL AND RESERVES
Called up share capital 7 100,100 100,100
Retained earnings (135,523 ) (57,255 )
SHAREHOLDERS' FUNDS (35,423 ) 42,845

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





Mr A Chandler - Director


MACHINERY ENGINEERING LTD (REGISTERED NUMBER: 02703334)

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

1. STATUTORY INFORMATION

Machinery Engineering 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.

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 company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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

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 - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MACHINERY ENGINEERING LTD (REGISTERED NUMBER: 02703334)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 270,669
Additions 3,250
At 31 December 2023 273,919
DEPRECIATION
At 1 January 2023 252,725
Charge for year 4,238
At 31 December 2023 256,963
NET BOOK VALUE
At 31 December 2023 16,956
At 31 December 2022 17,944

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,630 -
Other debtors 38,211 23,416
39,841 23,416

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 288
Trade creditors 14,927 1,617
Amounts owed to participating interests 166,653 74,864
Taxation and social security 5,410 8,476
Other creditors 3,009 3,329
189,999 88,574

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary "A" shares £1 100 100
100,000 Ordinary "B" shares £1 100,000 100,000
100,100 100,100

MACHINERY ENGINEERING LTD (REGISTERED NUMBER: 02703334)

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

8. RELATED PARTY DISCLOSURES

At 31 December 2023 loans totalling £40,250 (2022 - £40,250) were owed to companies who have an interest in the issued share capital of Machinery Engineering Ltd.

The loans were provided on an interest free basis.