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REGISTERED NUMBER: SC215941 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MECHANICAL PLANT INSTALLATION LIMITED

MECHANICAL PLANT INSTALLATION LIMITED (REGISTERED NUMBER: SC215941)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MECHANICAL PLANT INSTALLATION LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: M Bowsfield
A R G Boules





SECRETARY: M Bowsfield





REGISTERED OFFICE: Unit 6, Block 7
Whiteside Industrial Estate
Bathgate
West Lothian
EH48 2RX





REGISTERED NUMBER: SC215941 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

MECHANICAL PLANT INSTALLATION LIMITED (REGISTERED NUMBER: SC215941)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 188,808 172,744

CURRENT ASSETS
Stocks 5 82,317 42,858
Debtors 6 221,981 332,985
Cash at bank and in hand 568,703 571,549
873,001 947,392
CREDITORS
Amounts falling due within one year 7 123,504 201,193
NET CURRENT ASSETS 749,497 746,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

938,305

918,943

CREDITORS
Amounts falling due after more than one
year

8

(5,509

)

(12,854

)

PROVISIONS FOR LIABILITIES (35,874 ) (32,821 )
NET ASSETS 896,922 873,268

CAPITAL AND RESERVES
Called up share capital 72 72
Retained earnings 896,850 873,196
SHAREHOLDERS' FUNDS 896,922 873,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

MECHANICAL PLANT INSTALLATION LIMITED (REGISTERED NUMBER: SC215941)

BALANCE SHEET - continued
29 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





A R G Boules - Director


MECHANICAL PLANT INSTALLATION LIMITED (REGISTERED NUMBER: SC215941)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Mechanical Plant Installation Limited 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

MECHANICAL PLANT INSTALLATION LIMITED (REGISTERED NUMBER: SC215941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 223,707 53,493 184,191 461,391
Additions 16,495 - 57,392 73,887
Disposals - - (16,000 ) (16,000 )
At 29 February 2024 240,202 53,493 225,583 519,278
DEPRECIATION
At 1 March 2023 162,410 42,325 83,912 288,647
Charge for year 11,669 1,675 37,729 51,073
Eliminated on disposal - - (9,250 ) (9,250 )
At 29 February 2024 174,079 44,000 112,391 330,470
NET BOOK VALUE
At 29 February 2024 66,123 9,493 113,192 188,808
At 28 February 2023 61,297 11,168 100,279 172,744

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 47,034
DEPRECIATION
At 1 March 2023 11,759
Charge for year 8,818
At 29 February 2024 20,577
NET BOOK VALUE
At 29 February 2024 26,457
At 28 February 2023 35,275

MECHANICAL PLANT INSTALLATION LIMITED (REGISTERED NUMBER: SC215941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 5,075 5,075
Work-in-progress 77,242 37,783
82,317 42,858

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 213,008 323,928
Prepayments and accrued income 8,973 9,057
221,981 332,985

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 7,345 7,345
Trade creditors 47,582 78,553
Tax 1,057 -
Social security and other taxes 10,377 12,288
VAT 50,066 103,007
Accrued expenses 7,077 -
123,504 201,193

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 5,509 12,854

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 12,854 20,199