IRIS Accounts Production v24.2.0.383 03015670 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh030156702023-03-31030156702024-03-31030156702023-04-012024-03-31030156702022-03-31030156702022-04-012023-03-31030156702023-03-3103015670ns15:EnglandWales2023-04-012024-03-3103015670ns14:PoundSterling2023-04-012024-03-3103015670ns10:Director12023-04-012024-03-3103015670ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103015670ns10:SmallEntities2023-04-012024-03-3103015670ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103015670ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103015670ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103015670ns10:FullAccounts2023-04-012024-03-310301567012023-04-012024-03-3103015670ns10:OrdinaryShareClass12023-04-012024-03-3103015670ns10:Director22023-04-012024-03-3103015670ns10:Director32023-04-012024-03-3103015670ns10:Director42023-04-012024-03-3103015670ns10:Director52023-04-012024-03-3103015670ns10:CompanySecretary12023-04-012024-03-3103015670ns10:RegisteredOffice2023-04-012024-03-3103015670ns5:CurrentFinancialInstruments2024-03-3103015670ns5:CurrentFinancialInstruments2023-03-3103015670ns5:Non-currentFinancialInstruments2024-03-3103015670ns5:Non-currentFinancialInstruments2023-03-3103015670ns5:ShareCapital2024-03-3103015670ns5:ShareCapital2023-03-3103015670ns5:RetainedEarningsAccumulatedLosses2024-03-3103015670ns5:RetainedEarningsAccumulatedLosses2023-03-3103015670ns5:NetGoodwill2023-04-012024-03-3103015670ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103015670ns5:LeaseholdImprovements2023-04-012024-03-3103015670ns5:PlantMachinery2023-04-012024-03-3103015670ns5:MotorVehicles2023-04-012024-03-3103015670ns5:ComputerEquipment2023-04-012024-03-3103015670ns5:NetGoodwill2023-03-3103015670ns5:NetGoodwill2024-03-3103015670ns5:NetGoodwill2023-03-3103015670ns5:LeaseholdImprovements2023-03-3103015670ns5:PlantMachinery2023-03-3103015670ns5:MotorVehicles2023-03-3103015670ns5:ComputerEquipment2023-03-3103015670ns5:LeaseholdImprovements2024-03-3103015670ns5:PlantMachinery2024-03-3103015670ns5:MotorVehicles2024-03-3103015670ns5:ComputerEquipment2024-03-3103015670ns5:LeaseholdImprovements2023-03-3103015670ns5:PlantMachinery2023-03-3103015670ns5:MotorVehicles2023-03-3103015670ns5:ComputerEquipment2023-03-3103015670ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103015670ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103015670ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3103015670ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3103015670ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 03015670 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

M C T ENGINEERING LIMITED

M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

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


M C T ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D A Joseph
S G Holbrooke
S Szmigielski
U Munjal
R J Neumann





SECRETARY: D A Joseph





REGISTERED OFFICE: Unit 2 Riley Close
Royal Oak Trading Estate
Daventry
Northamptonshire
NN11 8QT





REGISTERED NUMBER: 03015670 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 472,593 498,645
472,593 498,645

CURRENT ASSETS
Stocks 6 435,078 500,270
Debtors 7 2,407,891 2,416,351
Cash at bank and in hand 3,148,016 1,269,416
5,990,985 4,186,037
CREDITORS
Amounts falling due within one year 8 2,531,340 1,926,569
NET CURRENT ASSETS 3,459,645 2,259,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,932,238

2,758,113

CREDITORS
Amounts falling due after more than one
year

9

(63,522

)

(108,721

)

PROVISIONS FOR LIABILITIES (77,544 ) (65,150 )
NET ASSETS 3,791,172 2,584,242

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 3,791,072 2,584,142
SHAREHOLDERS' FUNDS 3,791,172 2,584,242

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.

M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





D A Joseph - Director


M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

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


1. STATUTORY INFORMATION

M C T Engineering Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 0, is being amortised evenly over its estimated useful life of nil 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.
Improvements to property - 20% on cost
Plant and machinery - at varying rates on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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

M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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 82 (2023 - 80 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 150,500
AMORTISATION
At 1 April 2023
and 31 March 2024 150,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Plant and Motor Computer
to property machinery vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2023 328,009 718,232 161,407 101,258 1,308,906
Additions 7,895 49,287 19,077 3,074 79,333
Disposals - (2,275 ) (4,500 ) (1,598 ) (8,373 )
Reclassification/transfer - (10,000 ) 10,000 - -
At 31 March 2024 335,904 755,244 185,984 102,734 1,379,866
DEPRECIATION
At 1 April 2023 115,366 556,855 73,274 64,766 810,261
Charge for year 29,017 40,733 25,341 10,294 105,385
Eliminated on disposal - (2,275 ) (4,500 ) (1,598 ) (8,373 )
Reclassification/transfer - (10,000 ) 10,000 - -
At 31 March 2024 144,383 585,313 104,115 73,462 907,273
NET BOOK VALUE
At 31 March 2024 191,521 169,931 81,869 29,272 472,593
At 31 March 2023 212,643 161,377 88,133 36,492 498,645

M C T ENGINEERING LIMITED (REGISTERED NUMBER: 03015670)

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


6. STOCKS
2024 2023
£ £
Stocks 435,078 500,270

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,938,063 2,045,901
Amounts recoverable on contract 401,039 303,625
Other debtors 31,800 33,397
Directors' current accounts 1,571 -
Prepayments 35,418 33,428
2,407,891 2,416,351

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 40,000 91,978
Hire purchase contracts 5,199 4,768
Trade creditors 1,360,173 1,204,314
Tax 305,241 (18,460 )
Social security and other taxes 179,981 64,086
VAT 455,437 350,072
Other creditors 45,981 38,603
Accrued expenses 139,328 191,208
2,531,340 1,926,569

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 46,668 86,668
Hire purchase contracts 16,854 22,053
63,522 108,721

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100