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REGISTERED NUMBER: 10006440 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024

FOR

THE MACHINE INSTALL COMPANY LTD

THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE MACHINE INSTALL COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 AUGUST 2024







DIRECTORS: J Steward
Mrs S Steward





SECRETARY: Mrs S Steward





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 10006440 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

BALANCE SHEET
30 AUGUST 2024

30.8.24 30.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,560 5,130
Tangible assets 5 128,097 156,971
132,657 162,101

CURRENT ASSETS
Stocks 270,378 188,724
Debtors 6 508,805 794,325
Cash at bank 76,921 8,149
856,104 991,198
CREDITORS
Amounts falling due within one year 7 811,592 993,522
NET CURRENT ASSETS/(LIABILITIES) 44,512 (2,324 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

177,169

159,777

CREDITORS
Amounts falling due after more than one
year

8

(131,648

)

(237,341

)

PROVISIONS FOR LIABILITIES (24,900 ) (1,800 )
NET ASSETS/(LIABILITIES) 20,621 (79,364 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,521 (79,464 )
SHAREHOLDERS' FUNDS 20,621 (79,364 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 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.

THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

BALANCE SHEET - continued
30 AUGUST 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 18 November 2024 and were signed on its behalf by:





J Steward - Director


THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2024

1. STATUTORY INFORMATION

The Machine Install Company 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.

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.

The directors believe that the company is well placed to manage its financial risks successfully and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover represents the sales value of goods and services supplied, excluding value added tax, adjusted for ongoing contracts that are long term or material in relation to turnover and profits in accordance with FRS 102 Section 23 as detailed in the long term contract accounting policy.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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 - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.


THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 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.

Long term contracts
Amounts recoverable on contracts, which are included in debtors, are stated at cost plus attributable profit to the extent that this is reasonably certain after making provisions for contingencies less any losses incurred or foreseen in bringing contracts to completion, and less amounts received as progress payments. Cost for this purpose includes material costs and all overheads other than those relating to the general administration of the company. For any contracts where receipts exceed book value of work done, the excess is included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 31 August 2023
and 30 August 2024 5,700
AMORTISATION
At 31 August 2023 570
Amortisation for year 570
At 30 August 2024 1,140
NET BOOK VALUE
At 30 August 2024 4,560
At 30 August 2023 5,130

THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 31 August 2023 21,909 201,755 27,259
Additions 3,649 13,269 544
Disposals - - -
At 30 August 2024 25,558 215,024 27,803
DEPRECIATION
At 31 August 2023 11,018 86,093 16,142
Charge for year 5,078 29,794 2,840
Eliminated on disposal - - -
At 30 August 2024 16,096 115,887 18,982
NET BOOK VALUE
At 30 August 2024 9,462 99,137 8,821
At 30 August 2023 10,891 115,662 11,117

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 31 August 2023 8,013 28,126 287,062
Additions - 710 18,172
Disposals (6,495 ) - (6,495 )
At 30 August 2024 1,518 28,836 298,739
DEPRECIATION
At 31 August 2023 1,821 15,017 130,091
Charge for year 1,547 3,322 42,581
Eliminated on disposal (2,030 ) - (2,030 )
At 30 August 2024 1,338 18,339 170,642
NET BOOK VALUE
At 30 August 2024 180 10,497 128,097
At 30 August 2023 6,192 13,109 156,971

THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 31 August 2023
and 30 August 2024 66,000
DEPRECIATION
At 31 August 2023 18,563
Charge for year 11,859
At 30 August 2024 30,422
NET BOOK VALUE
At 30 August 2024 35,578
At 30 August 2023 47,437

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.24 30.8.23
£    £   
Trade debtors 183,675 419,132
Amounts recoverable on contract 49,753 192,956
Other debtors 275,377 182,237
508,805 794,325

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.24 30.8.23
£    £   
Bank loans and overdrafts 139,448 123,890
Hire purchase contracts (see note 9) 18,022 20,147
Payments on account 8,148 93,657
Trade creditors 339,110 545,877
Taxation and social security 261,943 152,564
Other creditors 44,921 57,387
811,592 993,522

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.8.24 30.8.23
£    £   
Bank loans 131,648 219,319
Hire purchase contracts (see note 9) - 18,022
131,648 237,341

THE MACHINE INSTALL COMPANY LTD (REGISTERED NUMBER: 10006440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.8.24 30.8.23
£    £   
Net obligations repayable:
Within one year 18,022 20,147
Between one and five years - 18,022
18,022 38,169

Non-cancellable operating leases
30.8.24 30.8.23
£    £   
Within one year 47,484 78,962
Between one and five years 4,565 52,049
52,049 131,011

10. SECURED DEBTS

The following secured debts are included within creditors:

30.8.24 30.8.23
£    £   
Hire purchase contracts 18,022 38,169

Hire purchase liabilities are secured by the assets to which they relate. The assets remain the property of the finance company until the balance is repaid in full.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 August 2024 and the period ended 30 August 2023:

30.8.24 30.8.23
£    £   
J Steward
Balance outstanding at start of year 63,490 69,819
Amounts advanced 66,647 63,671
Amounts repaid (6,000 ) (70,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 124,137 63,490

Interest was charged on the directors loan account balances in excess of £10,000 at 2.25%.