Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-09-013falseEngineering related scientific and technical consulting activities3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12789538 2023-09-01 2024-04-30 12789538 2022-09-01 2023-08-31 12789538 2024-04-30 12789538 2023-08-31 12789538 2022-09-01 12789538 c:Director2 2023-09-01 2024-04-30 12789538 d:OfficeEquipment 2023-09-01 2024-04-30 12789538 d:OfficeEquipment 2024-04-30 12789538 d:OfficeEquipment 2023-08-31 12789538 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-04-30 12789538 d:CurrentFinancialInstruments 2024-04-30 12789538 d:CurrentFinancialInstruments 2023-08-31 12789538 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 12789538 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12789538 d:ShareCapital 2024-04-30 12789538 d:ShareCapital 2023-08-31 12789538 d:SharePremium 2024-04-30 12789538 d:SharePremium 2023-08-31 12789538 d:RetainedEarningsAccumulatedLosses 2024-04-30 12789538 d:RetainedEarningsAccumulatedLosses 2023-08-31 12789538 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 12789538 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 12789538 c:OrdinaryShareClass1 2023-09-01 2024-04-30 12789538 c:OrdinaryShareClass1 2024-04-30 12789538 c:OrdinaryShareClass1 2023-08-31 12789538 c:OrdinaryShareClass2 2023-09-01 2024-04-30 12789538 c:OrdinaryShareClass2 2024-04-30 12789538 c:OrdinaryShareClass2 2023-08-31 12789538 c:OrdinaryShareClass3 2023-09-01 2024-04-30 12789538 c:OrdinaryShareClass3 2024-04-30 12789538 c:OrdinaryShareClass3 2023-08-31 12789538 c:FRS102 2023-09-01 2024-04-30 12789538 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-04-30 12789538 c:FullAccounts 2023-09-01 2024-04-30 12789538 c:PrivateLimitedCompanyLtd 2023-09-01 2024-04-30 12789538 2 2023-09-01 2024-04-30 12789538 e:PoundSterling 2023-09-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12789538









THE MEP CONSULTANCY COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024

 
THE MEP CONSULTANCY COMPANY LIMITED
REGISTERED NUMBER: 12789538

BALANCE SHEET
AS AT 30 APRIL 2024

30 April
As restated 31 August
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,415
3,315

  
2,415
3,315

Current assets
  

Stocks
 5 
11,713
-

Debtors: amounts falling due within one year
 6 
181,793
398,636

Cash at bank and in hand
 7 
36,033
5,596

  
229,539
404,232

Creditors: amounts falling due within one year
 8 
(121,784)
(180,123)

Net current assets
  
 
 
107,755
 
 
224,109

Total assets less current liabilities
  
110,170
227,424

Provisions for liabilities
  

Deferred tax
 9 
(604)
(829)

Net assets
  
109,566
226,595


Capital and reserves
  

Called up share capital 
 10 
6
6

Share premium account
  
14,998
14,998

Profit and loss account
  
94,562
211,591

  
109,566
226,595


Page 1

 
THE MEP CONSULTANCY COMPANY LIMITED
REGISTERED NUMBER: 12789538
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2025.




B J Martin
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

The MEP Consultancy Company Limited is a private company limited by shares and incorporated in England and Wales. The registered office of the company is Room 5 Fountain House, Crossways Business Park, Anchor Boulevard, Dartford, Kent, United Kingdom, DA2 6QH.
The principal activity of the company is Engineering related scientific and technical consulting activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line.

Depreciation is provided on the following basis:

Office equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Work in progress

Work in progress and finished goods include labour and attributable overheads.



Page 5

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors 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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Page 6

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 7

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2023 - 3).

Page 8

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 September 2023
5,400



At 30 April 2024

5,400



Depreciation


At 1 September 2023
2,085


Charge for the period on owned assets
900



At 30 April 2024

2,985



Net book value



At 30 April 2024
2,415



At 31 August 2023
3,315


5.


Work in progress

30 April
31 August
2024
2023
£
£

Work in progress
11,713
-

11,713
-


Page 9

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

6.


Debtors

30 April
31 August
2024
2023
£
£


Trade debtors
69,884
391,969

Other debtors
10,171
-

Prepayments and accrued income
101,738
6,667

181,793
398,636



7.


Cash and cash equivalents

30 April
31 August
2024
2023
£
£

Cash at bank and in hand
36,033
5,596

36,033
5,596



8.


Creditors: Amounts falling due within one year

30 April
As restated 31 August
2024
2023
£
£

Trade creditors
16,736
16,334

Corporation tax
66,649
77,375

Other taxation and social security
14,874
66,768

Other creditors
20,770
15,472

Accruals and deferred income
2,755
4,174

121,784
180,123


Page 10

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Deferred taxation






2024
2023


£

£






At beginning of year
(829)
(503)


Charged to profit or loss
225
(326)



At end of year
(604)
(829)

The provision for deferred taxation is made up as follows:

30 April
31 August
2024
2023
£
£


Accelerated capital allowances
(604)
(829)

(604)
(829)


10.


Share capital

30 April
31 August
2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary'A' shares of £1.00 each
2
2
2 (2023 - 2) Ordinary'B' shares of £1.00 each
2
2
2 (2023 - 2) Ordinary'C' shares of £1.00 each
2
2

6

6



11.


Pension commitments

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a seperate entity. Once the contributions have been paid the company has no further payment obligations.
Contributions due to the scheme at the year end amounted to £770 (2023: £770).

Page 11

 
THE MEP CONSULTANCY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

12.


Related party transactions

Included within debtors due within one year is an amount of £9,885 (2023 - £14,702) due from a company under common control.
As at the year-end the directors had made advances to the company totalling £20,000 (2023 - £nil as restated)
The directors have an interest in dividends paid during the year of £160,000 (2023 - £100,000)


13.


Controlling party

No one individual controls the company.

 
Page 12