Registered number
07658515
ME&P COST CONSULTING LIMITED
Report and Unaudited Accounts
30 June 2024
ME&P COST CONSULTING LIMITED
Registered number: 07658515
Director's Report
The director presents his report and accounts for the year ended 30 June 2024.
Principal activities
The company's principal activity during the year continued to be surveying & engineering consultancy.
Directors
The following persons served as directors during the year:
TABEN EXETER
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 28 November 2024 and signed on its behalf.
TABEN EXETER
Director
ME&P COST CONSULTING LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of ME&P COST CONSULTING LIMITED for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ME&P COST CONSULTING LIMITED for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of ME&P COST CONSULTING LIMITED, as a body, in accordance with the terms of our engagement letter dated 18 November 2021. Our work has been undertaken solely to prepare for your approval the accounts of ME&P COST CONSULTING LIMITED and state those matters that we have agreed to state to the Board of Directors of ME&P COST CONSULTING LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ME&P COST CONSULTING LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that ME&P COST CONSULTING LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ME&P COST CONSULTING LIMITED. You consider that ME&P COST CONSULTING LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of ME&P COST CONSULTING LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
MOYNIHAN & CO
Chartered Accountants
4 Rickards Close
Surbiton
KT6 6RN
28 November 2024
ME&P COST CONSULTING LIMITED
Profit and Loss Account
for the year ended 30 June 2024
2024 2023
£ £
Turnover 350,502 314,074
Cost of sales (19,216) (29,666)
Gross profit 331,286 284,408
Administrative expenses (212,199) (206,416)
Operating profit 119,087 77,992
Interest receivable 281 100
Profit before taxation 119,368 78,092
Tax on profit (27,919) (16,087)
Profit for the financial year 91,449 62,005
ME&P COST CONSULTING LIMITED
Registered number: 07658515
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,414 11,472
Current assets
Debtors 4 99,366 88,313
Cash at bank and in hand 74,715 16,642
174,081 104,955
Creditors: amounts falling due within one year 5 (67,178) (32,711)
Net current assets 106,903 72,244
Total assets less current liabilities 118,317 83,716
Provisions for liabilities (3,011) (3,011)
Net assets 115,306 80,705
Capital and reserves
Called up share capital 100 100
Profit and loss account 115,206 80,605
Shareholder's funds 115,306 80,705
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
TABEN EXETER
Director
Approved by the board on 28 November 2024
ME&P COST CONSULTING LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery, tools and equipment 25% per annum reducing balance
Motor vehicles 20% per annum reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 51,919 14,239 66,158
Additions 3,588 - 3,588
At 30 June 2024 55,507 14,239 69,746
Depreciation
At 1 July 2023 42,836 11,850 54,686
Charge for the year 3,168 478 3,646
At 30 June 2024 46,004 12,328 58,332
Net book value
At 30 June 2024 9,503 1,911 11,414
At 30 June 2023 9,083 2,389 11,472
4 Debtors 2024 2023
£ £
Trade debtors 48,872 26,804
Other debtors 50,494 61,509
99,366 88,313
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,659 3,487
Taxation and social security costs 56,640 23,345
Other creditors 5,879 5,879
67,178 32,711
6 Other information
ME&P COST CONSULTING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
16 Ruxton Close
Swanley
Kent
BR8 7DA
7 Related party transactions
During the year the company made a short term loan of £45,832 to the company's sole director which was repaid in November 2024. The loan is interest free and unsecured.
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