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REGISTERED NUMBER: 05060603 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MES SYSTEMS LIMITED

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

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


MES SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: R J Morgan
A L Batchelor
A K Morgan





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 05060603 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,896 22,179
Tangible assets 5 121,128 119,801
138,024 141,980

CURRENT ASSETS
Stocks 139,151 161,419
Debtors 6 556,735 550,471
Cash at bank and in hand 204,414 104,067
900,300 815,957
CREDITORS
Amounts falling due within one year 7 544,471 395,532
NET CURRENT ASSETS 355,829 420,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,853

562,405

CREDITORS
Amounts falling due after more than one
year

8

(134,739

)

(228,779

)

PROVISIONS FOR LIABILITIES (29,664 ) (22,762 )
NET ASSETS 329,450 310,864

CAPITAL AND RESERVES
Called up and paid share capital 2 2
Retained earnings 329,448 310,862
329,450 310,864

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.

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

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 29 November 2024 and were signed on its behalf by:





R J Morgan - Director


MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Mes Systems 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, is being amortised evenly over its estimated useful life of 20 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% 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 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.

Financial instruments
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.


MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Issue of bonus shares
During the year 26,667 VV shares with an aggregate nominal value of £0.47 were issued.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 101,000 5,125 106,125
AMORTISATION
At 1 March 2023 82,550 1,396 83,946
Charge for year 4,350 933 5,283
At 29 February 2024 86,900 2,329 89,229
NET BOOK VALUE
At 29 February 2024 14,100 2,796 16,896
At 28 February 2023 18,450 3,729 22,179

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 212,344
Additions 30,064
Disposals (8,750 )
At 29 February 2024 233,658
DEPRECIATION
At 1 March 2023 92,543
Charge for year 26,661
Eliminated on disposal (6,674 )
At 29 February 2024 112,530
NET BOOK VALUE
At 29 February 2024 121,128
At 28 February 2023 119,801

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 249,670 223,365
Amounts owed by group undertakings 300,677 318,541
Other debtors 6,388 8,565
556,735 550,471

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 6,006 19,603
Trade creditors 77,719 81,606
Taxation and social security 162,292 121,382
Other creditors 298,454 172,941
544,471 395,532

MES SYSTEMS LIMITED (REGISTERED NUMBER: 05060603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 6,006
Other creditors 134,739 222,773
134,739 228,779

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 38,002 134,739

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 222,773 302,894

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 not to disclose related party transactions with wholly owned members of the group