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REGISTERED NUMBER: 09613728 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MMK ENGINEERING LTD

MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)






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


MMK ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Keeves
R A Pett





REGISTERED OFFICE: Tellams Yard
Cheriton Bishop
Exeter
Devon
EX6 6HH





REGISTERED NUMBER: 09613728 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW

MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 36,000 46,000
Tangible assets 5 469,258 358,233
505,258 404,233

CURRENT ASSETS
Stocks 43,650 55,290
Debtors 6 860,670 943,487
Cash at bank 439,442 55,891
1,343,762 1,054,668
CREDITORS
Amounts falling due within one year 7 1,204,563 959,649
NET CURRENT ASSETS 139,199 95,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,457

499,252

CREDITORS
Amounts falling due after more than one
year

8

(60,142

)

(21,667

)

PROVISIONS FOR LIABILITIES 10 (83,984 ) (50,088 )
NET ASSETS 500,331 427,497

CAPITAL AND RESERVES
Called up share capital 11 104 104
Retained earnings 500,227 427,393
SHAREHOLDERS' FUNDS 500,331 427,497

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 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.

MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

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 Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




S Keeves - Director



R A Pett - Director


MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

MMK 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 includes all direct costs and an appropriate proportion of fixed and variable overheads, and in the case of work in progress, a proportion of attributable profit.

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.


MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023 54,000
Amortisation for year 10,000
At 31 March 2024 64,000
NET BOOK VALUE
At 31 March 2024 36,000
At 31 March 2023 46,000

MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 36,208 399,691 138,497 11,644 586,040
Additions 4,800 213,110 42,000 3,430 263,340
At 31 March 2024 41,008 612,801 180,497 15,074 849,380
DEPRECIATION
At 1 April 2023 10,236 165,489 46,377 5,705 227,807
Charge for year 4,616 111,828 33,530 2,341 152,315
At 31 March 2024 14,852 277,317 79,907 8,046 380,122
NET BOOK VALUE
At 31 March 2024 26,156 335,484 100,590 7,028 469,258
At 31 March 2023 25,972 234,202 92,120 5,939 358,233

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 150,500
At 31 March 2024 150,500
DEPRECIATION
Charge for year 21,948
At 31 March 2024 21,948
NET BOOK VALUE
At 31 March 2024 128,552

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 836,754 930,390
Other debtors 6,450 450
Prepayments 17,466 12,647
860,670 943,487

MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,033 10,000
Hire purchase contracts 32,107 -
Trade creditors 307,637 291,482
Factoring account 477,431 375,220
Corporation tax 63,818 35,994
Social security and other taxes 12,557 19,069
VAT 193,123 150,885
Other creditors 5,896 15,363
Directors' loan accounts 62,636 58,366
Accrued expenses 3,325 3,270
1,204,563 959,649

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,982 11,667
Hire purchase contracts 48,160 -
60,142 21,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 58,015 31,667
Hire purchase contracts 80,267 -
138,282 31,667

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 83,984 50,088

Deferred
tax
£   
Balance at 1 April 2023 50,088
Charge to Statement of Income and Retained Earnings during year 33,896
Balance at 31 March 2024 83,984

MMK ENGINEERING LTD (REGISTERED NUMBER: 09613728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
104 104