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REGISTERED NUMBER: 01905259 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2024

FOR

MEKATEK LIMITED

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


MEKATEK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







Directors: P N Mellor
D G Lewis





Registered office: Mbg House
Unit C Maerdy Industrial Estate
Rhymney
Tredegar
NP22 5PY





Registered number: 01905259 (England and Wales)

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

BALANCE SHEET
30TH APRIL 2024

30.4.24 30.4.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 3,708,802 3,736,490

Current assets
Stocks 5 306,722 -
Debtors 6 2,526,562 2,710,620
Cash at bank and in hand 366,404 225,615
3,199,688 2,936,235
Creditors
Amounts falling due within one year 7 1,846,428 2,537,768
Net current assets 1,353,260 398,467
Total assets less current liabilities 5,062,062 4,134,957

Creditors
Amounts falling due after more than one
year

8

(1,269,688

)

(1,600,692

)

Provisions for liabilities 11 (526,500 ) (239,100 )
Net assets 3,265,874 2,295,165

Capital and reserves
Called up share capital 12 100 100
Retained earnings 3,265,774 2,295,065
Shareholders' funds 3,265,874 2,295,165

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

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

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

BALANCE SHEET - continued
30TH APRIL 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 23rd January 2025 and were signed on its behalf by:





P N Mellor - Director


MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. Statutory information

Mekatek 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 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.

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.
Freehold property - 1% Straight line
Plant & machinery - 20% on reducing balance and 10% on cost

Tangible fixed assets are stated in the Balance sheet at cost less depreciation.

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

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

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


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

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


2. Accounting policies - continued
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

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


2. Accounting policies - continued

Hire purchase & 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 & 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 41 (2023 - 44 ) .

4. Tangible fixed assets
Freehold Plant &
property machinery Totals
£ £ £
Cost
At 1st May 2023 992,793 6,803,845 7,796,638
Additions - 622,193 622,193
At 30th April 2024 992,793 7,426,038 8,418,831
Depreciation
At 1st May 2023 195,279 3,864,869 4,060,148
Charge for year 9,928 639,953 649,881
At 30th April 2024 205,207 4,504,822 4,710,029
Net book value
At 30th April 2024 787,586 2,921,216 3,708,802
At 30th April 2023 797,514 2,938,976 3,736,490

The net book value of tangible fixed assets includes £ 495,209 (2023 - £ 632,690 ) in respect of assets held under hire purchase contracts.

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

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


5. Stocks
30.4.24 30.4.23
£ £
Stocks 306,722 -

6. Debtors: amounts falling due within one year
30.4.24 30.4.23
£ £
Trade debtors 1,217,878 1,003,404
Amounts owed by group undertakings 592,397 -
Other debtors 300 -
Prepayments & accrued income 715,987 1,707,216
2,526,562 2,710,620

7. Creditors: amounts falling due within one year
30.4.24 30.4.23
£ £
Bank loans 29,558 24,483
Hire purchase contracts (see note 9) 290,246 318,398
Trade creditors 837,143 366,906
Amounts owed to group undertakings - 1,063,242
Social security & other taxes 440,206 101,806
Accrued expenses 249,275 662,933
1,846,428 2,537,768

8. Creditors: amounts falling due after more than one year
30.4.24 30.4.23
£ £
Bank loans - two to five years 140,583 228,144
Bank loans more than five years 927,332 875,499
Hire purchase contracts (see note 9) 201,773 497,049
1,269,688 1,600,692

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than five years 927,332 875,499

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

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


9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£ £
Net obligations repayable:
Within one year 290,246 318,398
Between one and five years 201,773 497,049
492,019 815,447

Non-cancellable
operating leases
30.4.24 30.4.23
£ £
Within one year 67,455 16,536
Between one and five years 203,736 1,378
271,191 17,914

10. Secured debts

The following secured debts are included within creditors:

30.4.24 30.4.23
£ £
Bank loans 1,097,473 1,128,126

The bank loan is secured on the land and buildings owned by the company.

11. Provisions for liabilities
30.4.24 30.4.23
£ £
Deferred tax 526,500 239,100

Deferred tax
£
Balance at 1st May 2023 239,100
Accelerated capital allowances (16,500 )
Losses utilised 303,900
Balance at 30th April 2024 526,500

MEKATEK LIMITED (REGISTERED NUMBER: 01905259)

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


12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £ £
100 Ordinary £1 100 100

13. Contingent liabilities

There were no contingent liabilities as at 30th April 2024.

14. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Related parties
The following transactions with related parties took place during the year, on normal commercial terms:



Sales

Purchases
Creditor
balance
£   £   £   
Controlled, joint control or significant influence
entities

4,726,045

-

-

15. Ultimate controlling party

The company is controlled by its ultimate holding company Mekatek Business Group Limited.
Company registration number: 07729702
Company registered office: Mbg House, Unit C Maerdy Industrial Estate, Rhymney, Tredegar, NP22 5PY