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REGISTERED NUMBER: 04305347 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Marine Electrical Consulting Limited

Marine Electrical Consulting Limited (Registered number: 04305347)






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


Marine Electrical Consulting Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P R Cairns
D E Cairns





SECRETARY: D E Cairns





REGISTERED OFFICE: 7A Ashville Avenue
Eaglescliffe
STOCKTON ON TEES
Cleveland
TS16 9AU





REGISTERED NUMBER: 04305347 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Marine Electrical Consulting Limited (Registered number: 04305347)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,493 1,851

CURRENT ASSETS
Debtors 5 4,198 591
Cash at bank and in hand 317,877 439,806
322,075 440,397
CREDITORS
Amounts falling due within one year 6 5,376 109,101
NET CURRENT ASSETS 316,699 331,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,192

333,147

PROVISIONS FOR LIABILITIES 7 - 352
NET ASSETS 318,192 332,795

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 318,190 332,793
SHAREHOLDERS' FUNDS 318,192 332,795

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.

Marine Electrical Consulting Limited (Registered number: 04305347)

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 16 October 2024 and were signed on its behalf by:





D E Cairns - Director


Marine Electrical Consulting Limited (Registered number: 04305347)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Marine Electrical Consulting 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income recognition
Income is recognised when a contract for the sale of goods or services is determined as unconditional.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

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.

Marine Electrical Consulting Limited (Registered number: 04305347)

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.

Contract work in progress
Contract work in progress is valued at costs incurred, net of amounts transferred to cost of sales, less foreseeable losses and payments on account not matched with turnover. Any profit attributable to contract work in progress, calculated in accordance with FRS 102, has been included by way of turnover and cost of sales, with the amount by which turnover is in excess of payments on account included in debtors in accrued income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,229 12,231 13,460
DEPRECIATION
At 1 April 2023 985 10,624 11,609
Charge for year 37 321 358
At 31 March 2024 1,022 10,945 11,967
NET BOOK VALUE
At 31 March 2024 207 1,286 1,493
At 31 March 2023 244 1,607 1,851

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,571 -
Prepayments and accrued income 627 591
4,198 591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 828 234
Amounts owed to participating interests 249 301
Taxation and social security 1,071 25,295
Other creditors - 80,000
Directors' current accounts 1,285 624
Accruals and deferred income 1,943 2,647
5,376 109,101

Marine Electrical Consulting Limited (Registered number: 04305347)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 352

Deferred
tax
£   
Balance at 1 April 2023 352
Utilised during year (352 )
Accelerated capital allowances
Balance at 31 March 2024 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. ULTIMATE PARENT COMPANY

The Ultimate Parent Company is MEC Marine & Offshore Limited, a company incorporated in England & Wales. The company's registered office is the same as the registered office for Marine Electrical Consulting Limited which can be found on the Company Information page.