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REGISTERED NUMBER: SC184598 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Middleford Engineering Projects Ltd.

Middleford Engineering Projects Ltd. (Registered number: SC184598)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Middleford Engineering Projects Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr L Brown





REGISTERED OFFICE: East Crossley Steading
Netherley
By Stonehaven
Kincardineshire
AB39 3QY





REGISTERED NUMBER: SC184598 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Middleford Engineering Projects Ltd. (Registered number: SC184598)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,683 1,985

CURRENT ASSETS
Debtors 5 15,315 27,249
Cash at bank 10,809 32,145
26,124 59,394
CREDITORS
Amounts falling due within one year 6 39,661 29,703
NET CURRENT (LIABILITIES)/ASSETS (13,537 ) 29,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,146

31,676

CREDITORS
Amounts falling due after more than one
year

7

(53,363

)

-

PROVISIONS FOR LIABILITIES (4,447 ) (184 )
NET ASSETS 1,336 31,492

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 1,306 31,462
SHAREHOLDERS' FUNDS 1,336 31,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Middleford Engineering Projects Ltd. (Registered number: SC184598)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 16 September 2024 and were signed by:





Mr L Brown - Director


Middleford Engineering Projects Ltd. (Registered number: SC184598)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Middleford Engineering Projects Ltd. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Middleford Engineering Projects Ltd. (Registered number: SC184598)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 35,172 3,024 38,196
Additions 72,104 637 72,741
Disposals - (1,328 ) (1,328 )
At 31 March 2024 107,276 2,333 109,609
DEPRECIATION
At 1 April 2023 33,687 2,524 36,211
Charge for year 1,581 462 2,043
Eliminated on disposal - (1,328 ) (1,328 )
At 31 March 2024 35,268 1,658 36,926
NET BOOK VALUE
At 31 March 2024 72,008 675 72,683
At 31 March 2023 1,485 500 1,985

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 72,104
At 31 March 2024 72,104
DEPRECIATION
Charge for year 1,210
At 31 March 2024 1,210
NET BOOK VALUE
At 31 March 2024 70,894

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,854 16,201
Other debtors 8,461 11,048
15,315 27,249

Middleford Engineering Projects Ltd. (Registered number: SC184598)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 11,796 -
Taxation and social security 24,832 26,457
Other creditors 3,033 3,246
39,661 29,703

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 53,363 -

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr L Brown
Balance outstanding at start of year (713 ) 9,123
Amounts advanced 9,400 524
Amounts repaid (1,400 ) (10,360 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,287 (713 )

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr L Brown.