MEC Consulting Group Limited 07102309 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is civil engineering consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 07102309 2023-01-01 2023-12-31 07102309 2023-12-31 07102309 bus:Director3 1 2023-12-31 07102309 bus:OrdinaryShareClass1 2023-12-31 07102309 bus:OrdinaryShareClass2 2023-12-31 07102309 bus:OrdinaryShareClass3 2023-12-31 07102309 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 07102309 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 07102309 core:CurrentFinancialInstruments 2023-12-31 07102309 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07102309 core:Non-currentFinancialInstruments 2023-12-31 07102309 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07102309 core:Goodwill 2023-12-31 07102309 core:FurnitureFittingsToolsEquipment 2023-12-31 07102309 core:LandBuildings 2023-12-31 07102309 core:MotorVehicles 2023-12-31 07102309 core:OtherPropertyPlantEquipment 2023-12-31 07102309 bus:SmallEntities 2023-01-01 2023-12-31 07102309 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07102309 bus:FilletedAccounts 2023-01-01 2023-12-31 07102309 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07102309 bus:RegisteredOffice 2023-01-01 2023-12-31 07102309 bus:Director1 2023-01-01 2023-12-31 07102309 bus:Director2 2023-01-01 2023-12-31 07102309 bus:Director3 2023-01-01 2023-12-31 07102309 bus:Director3 1 2023-01-01 2023-12-31 07102309 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07102309 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07102309 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 07102309 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07102309 1 2023-01-01 2023-12-31 07102309 core:Goodwill 2023-01-01 2023-12-31 07102309 core:FurnitureFittings 2023-01-01 2023-12-31 07102309 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07102309 core:LandBuildings 2023-01-01 2023-12-31 07102309 core:MotorCars 2023-01-01 2023-12-31 07102309 core:MotorVehicles 2023-01-01 2023-12-31 07102309 core:OfficeEquipment 2023-01-01 2023-12-31 07102309 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07102309 core:PlantMachinery 2023-01-01 2023-12-31 07102309 core:OtherRelatedParties 2023-01-01 2023-12-31 07102309 countries:EnglandWales 2023-01-01 2023-12-31 07102309 2022-12-31 07102309 bus:Director3 1 2022-12-31 07102309 core:Goodwill 2022-12-31 07102309 core:FurnitureFittingsToolsEquipment 2022-12-31 07102309 core:LandBuildings 2022-12-31 07102309 core:MotorVehicles 2022-12-31 07102309 core:OtherPropertyPlantEquipment 2022-12-31 07102309 2022-01-01 2022-12-31 07102309 2022-12-31 07102309 bus:Director3 1 2022-12-31 07102309 bus:OrdinaryShareClass1 2022-12-31 07102309 bus:OrdinaryShareClass2 2022-12-31 07102309 bus:OrdinaryShareClass3 2022-12-31 07102309 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 07102309 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 07102309 core:CurrentFinancialInstruments 2022-12-31 07102309 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07102309 core:Non-currentFinancialInstruments 2022-12-31 07102309 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 07102309 core:Goodwill 2022-12-31 07102309 core:FurnitureFittingsToolsEquipment 2022-12-31 07102309 core:LandBuildings 2022-12-31 07102309 core:MotorVehicles 2022-12-31 07102309 core:OtherPropertyPlantEquipment 2022-12-31 07102309 bus:Director3 1 2022-01-01 2022-12-31 07102309 bus:Director3 1 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07102309

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Company Information

Directors

A. J. Bennett

T. S. Rose

Registered office

The Old Chapel
Station Road
Hugglescote
Coalville
Leicestershire
LE67 2GB

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

(Registration number: 07102309)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

138,286

226,493

Current assets

 

Stocks

6

144,537

96,209

Debtors

7

543,104

558,849

Cash at bank and in hand

 

215,616

744,339

 

903,257

1,399,397

Creditors: Amounts falling due within one year

8

(392,284)

(361,372)

Net current assets

 

510,973

1,038,025

Total assets less current liabilities

 

649,259

1,264,518

Creditors: Amounts falling due after more than one year

8

(248,239)

(94,751)

Provisions for liabilities

(26,598)

(36,462)

Net assets

 

374,422

1,133,305

Capital and reserves

 

Called up share capital

9

40

100

Capital redemption reserve

60

-

Retained earnings

374,322

1,133,205

Shareholders' funds

 

374,422

1,133,305

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

(Registration number: 07102309)
Balance Sheet as at 31 December 2023

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
A. J. Bennett
Director

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Mewies Engineering Consultants Limited.

The address of its registered office is:
The Old Chapel
Station Road
Hugglescote
Coalville
Leicestershire
LE67 2GB

These financial statements were authorised for issue by the Board on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% on cost

Furniture, fittings and equipment

25% on reducing balance

Computer equipment

33.33% on cost

Motor vehicles

25% on reducing balance

Plant and machinery

20% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

33.33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks and work in progress

Work in progress is valued at the lower of cost and net realisable value

Contract work in progress comprises costs incurred less costs recognised as contract expenses.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated over the useful life of the asset. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 41 (2022 - 45).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

105,960

105,960

At 31 December 2023

105,960

105,960

Amortisation

At 1 January 2023

105,960

105,960

At 31 December 2023

105,960

105,960

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

-

-

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

6,602

286,810

97,707

310,531

701,650

Additions

-

8,391

8,866

6,063

23,320

Disposals

-

-

(18,411)

-

(18,411)

At 31 December 2023

6,602

295,201

88,162

316,594

706,559

Depreciation

At 1 January 2023

842

199,373

33,396

241,546

475,157

Charge for the year

1,320

53,915

17,182

36,868

109,285

Eliminated on disposal

-

-

(16,169)

-

(16,169)

At 31 December 2023

2,162

253,288

34,409

278,414

568,273

Carrying amount

At 31 December 2023

4,440

41,913

53,753

38,180

138,286

At 31 December 2022

5,760

87,437

64,311

68,985

226,493

6

Stocks

2023
£

2022
£

Work in progress

144,537

96,209

7

Debtors

Current

2023
£

2022
£

Trade debtors

423,376

408,649

Prepayments

116,374

120,432

Other debtors

3,354

29,768

 

543,104

558,849

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

86,971

48,440

Trade creditors

 

97,134

113,552

Taxation and social security

 

155,385

142,546

Accruals and deferred income

 

42,913

43,985

Other creditors

 

9,881

12,849

 

392,284

361,372


Creditors include bank loans and net obligations under hire purchase contracts which are secured of £86,971 (2022 - £48,440).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

243,352

79,570

Deferred income

 

4,887

15,181

 

248,239

94,751


Creditors include bank loans and net obligations under hire purchase contracts which are secured of £243,352 (2022- £79,570).

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A shares of £1 each

-

-

55

55

Ordinary B shares of £1 each

40

40

40

40

Ordinary C shares of £1 each

-

-

5

5

40

40

100

100

10

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

36,158

-

Hire purchase contracts

50,813

48,440

86,971

48,440

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

208,940

-

Hire purchase contracts

34,412

79,570

243,352

79,570

 

MEC Consulting Group Limited
(formerly Mewies Engineering Consultants Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

E. Mewies

Director's loan account

18,252

74,375

(92,627)

-

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

E. Mewies

Director's loan account

(3,312)

111,564

(90,000)

18,252

Summary of transactions with other related parties


During the year, directors received dividends totalling £155,621 (2022 - £175,623).