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REGISTERED NUMBER: 11848446 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MEX ECO PRODUCTS LTD

MEX ECO PRODUCTS LTD (REGISTERED NUMBER: 11848446)

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










Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 3

Notes to the Financial Statements 4


MEX ECO PRODUCTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: I A A Gillan





REGISTERED OFFICE: Cypress House
3 Grove Avenue
Wilmslow
Cheshire
SK9 5EG





REGISTERED NUMBER: 11848446 (England and Wales)





ACCOUNTANTS: Donachie Chartered Accountants
2nd Floor
Templeton House
62 Templeton Street
Glasgow
G40 1DA

MEX ECO PRODUCTS LTD (REGISTERED NUMBER: 11848446)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 - 1,305,684
Debtors 5 412,831 2,257
Cash at bank 6,902 10,229
419,733 1,318,170
CREDITORS
Amounts falling due within one year 6 426,958 1,322,684
NET CURRENT LIABILITIES (7,225 ) (4,514 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,225 ) (4,514 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (7,226 ) (4,515 )
SHAREHOLDERS' FUNDS (7,225 ) (4,514 )

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.

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 20 September 2024 and were signed by:





I A A Gillan - Director


MEX ECO PRODUCTS LTD (REGISTERED NUMBER: 11848446)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 1 39,015 39,016

Changes in equity
Total comprehensive loss - (43,530 ) (43,530 )
Balance at 31 December 2022 1 (4,515 ) (4,514 )

Changes in equity
Total comprehensive loss - (2,711 ) (2,711 )
Balance at 31 December 2023 1 (7,226 ) (7,225 )

MEX ECO PRODUCTS LTD (REGISTERED NUMBER: 11848446)

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


1. STATUTORY INFORMATION

Mex Eco Products 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 financial statements have been prepared on the going concern basis, the validity of which depends upon the continued support of the Company's sole director and beneficial shareholder. At the balance sheet date the Company's liabilities exceeded its assets by £7,225.

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

Stock
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

MEX ECO PRODUCTS LTD (REGISTERED NUMBER: 11848446)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. STOCKS
2023 2022
£    £   
Work-in-progress - 1,305,684

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by related party 407,726 -
VAT 5,105 2,257
412,831 2,257

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans - 694,000
Trade creditors 77,925 91,069
Amounts owed to related party 295,000 231,000
Corporation tax - 6,365
Social security and other taxes 543 -
Directors' current accounts 50,740 296,500
Accruals and deferred income 2,750 3,750
426,958 1,322,684

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,256 -
Between one and five years 3,384 -
5,640 -

MEX ECO PRODUCTS LTD (REGISTERED NUMBER: 11848446)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
I A A Gillan
Balance outstanding at start of year (296,500 ) (406,000 )
Amounts advanced 482,301 (12,500 )
Amounts repaid (236,541 ) 122,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (50,740 ) (296,500 )

10. RELATED PARTY DISCLOSURES

Personal Physical Therapy Limited
A company controlled by I A A Gillan (Director)

The company operates a loan account with Personal Physical Therapy Limited, the amount due to Personal Physical therapy Limited at the balance sheet date is £295,000 (2022 - £231,000). No interest is charged on the loan and no fixed repayment date has been set.

Jafbuild Limited
A company in which I A A Gillan (Director) is a director and shareholder.

The company operates a loan account with Jafbuild Limited, the amount due from Jafbuild Limited at the balance sheet date is £407,725 (2022 - £NIL). No interest is charged on the loan and no fixed repayment date has been set.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I A A Gillan.