13 9 Meccanico Ltd 12891124 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of electrical, engineering and mechanical specialists. Digita Accounts Production Advanced 6.30.9574.0 true 12891124 2023-10-01 2024-09-30 12891124 2024-09-30 12891124 bus:OrdinaryShareClass1 2024-09-30 12891124 core:CurrentFinancialInstruments 2024-09-30 12891124 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 12891124 core:FurnitureFittingsToolsEquipment 2024-09-30 12891124 core:MotorVehicles 2024-09-30 12891124 bus:SmallEntities 2023-10-01 2024-09-30 12891124 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 12891124 bus:FilletedAccounts 2023-10-01 2024-09-30 12891124 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12891124 bus:RegisteredOffice 2023-10-01 2024-09-30 12891124 bus:Director1 2023-10-01 2024-09-30 12891124 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 12891124 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12891124 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 12891124 core:MotorVehicles 2023-10-01 2024-09-30 12891124 core:OfficeEquipment 2023-10-01 2024-09-30 12891124 countries:EnglandWales 2023-10-01 2024-09-30 12891124 2023-09-30 12891124 core:FurnitureFittingsToolsEquipment 2023-09-30 12891124 core:MotorVehicles 2023-09-30 12891124 2022-10-01 2023-09-30 12891124 2023-09-30 12891124 bus:OrdinaryShareClass1 2023-09-30 12891124 core:CurrentFinancialInstruments 2023-09-30 12891124 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 12891124 core:FurnitureFittingsToolsEquipment 2023-09-30 12891124 core:MotorVehicles 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Meccanico Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

Registration number: 12891124

 

Meccanico Ltd

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Meccanico Ltd

(Registration number: 12891124)
Statement of financial position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

32,643

24,198

Current assets

 

Debtors

5

135,601

227,142

Cash at bank and in hand

 

89,827

164,377

 

225,428

391,519

Creditors: Amounts falling due within one year

6

(242,629)

(407,265)

Net current liabilities

 

(17,201)

(15,746)

Total assets less current liabilities

 

15,442

8,452

Provisions for liabilities

(8,161)

(3,879)

Net assets

 

7,281

4,573

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

7,279

4,571

Shareholders' funds

 

7,281

4,573

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

 

Meccanico Ltd

(Registration number: 12891124)
Statement of financial position as at 30 September 2024

Approved and authorised by the Board on 3 January 2025 and signed on its behalf by:
 

.........................................
Mr S P McNally
Director

 

Meccanico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Bromley Lane
Chislehurst
BR7 6LH

These financial statements were authorised for issue by the Board on 3 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Meccanico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Commercial vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Meccanico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 9).

 

Meccanico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Office equipment
£

Commercial vehicles
£

Total
£

Cost or valuation

At 1 October 2023

9,441

29,670

39,111

Additions

3,356

17,550

20,906

At 30 September 2024

12,797

47,220

60,017

Depreciation

At 1 October 2023

4,740

10,173

14,913

Charge for the year

3,199

9,262

12,461

At 30 September 2024

7,939

19,435

27,374

Carrying amount

At 30 September 2024

4,858

27,785

32,643

At 30 September 2023

4,701

19,497

24,198

5

Debtors

Current

2024
£

2023
£

Trade debtors

113,614

159,809

Prepayments

4,047

6,243

Other debtors

17,940

61,090

 

135,601

227,142

 

Meccanico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

144,223

231,155

Taxation and social security

45,250

37,416

Accruals and deferred income

1,748

32,911

Other creditors

51,408

105,783

242,629

407,265

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £130,114 (2023 - £118,072).