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REGISTERED NUMBER: SC048839 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 30 September 2024

for

Machine Tool Engineers (E.K.) Limited

Machine Tool Engineers (E.K.) Limited (Registered number: SC048839)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Machine Tool Engineers (E.K.) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs A Alexander
J Muir





SECRETARY: J Muir





REGISTERED OFFICE: 15 Strathmore House
Town centrre
EAST KILBRIDE
G74 1LF





REGISTERED NUMBER: SC048839 (Scotland)





ACCOUNTANTS: RAEBURN ALLISON & CO
CHARTERED ACCOUNTANTS
13/15 STRATHMORE HOUSE
TOWN CENTRE
EAST KILBRIDE
GLASGOW
G74 1LF

Machine Tool Engineers (E.K.) Limited (Registered number: SC048839)

Abridged Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 73,425 100,293

CURRENT ASSETS
Debtors - 53,944
Cash at bank and in hand 764,575 877,394
764,575 931,338
CREDITORS
Amounts falling due within one year (40,172 ) (78,407 )
NET CURRENT ASSETS 724,403 852,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

797,828

953,224

CREDITORS
Amounts falling due after more than one
year

-

(44,984

)
NET ASSETS 797,828 908,240

CAPITAL AND RESERVES
Called up share capital 6 32,000 32,000
Capital redemption reserve 8,000 8,000
Retained earnings 757,828 868,240
SHAREHOLDERS' FUNDS 797,828 908,240

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

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

Machine Tool Engineers (E.K.) Limited (Registered number: SC048839)

Abridged Balance Sheet - continued
30 September 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 February 2025 and were signed on its behalf by:





J Muir - Director


Machine Tool Engineers (E.K.) Limited (Registered number: SC048839)

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

1. STATUTORY INFORMATION

Machine Tool Engineers (E.K.) Limited is a private company, limited by shares , registered in Scotland. 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 represents invoiced sales, excluding value added tax, after adjusting for work in progress movement.

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.
Motor vehicles - 25% on reducing balance

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.

Hire purchase and 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 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.

Machine Tool Engineers (E.K.) Limited (Registered number: SC048839)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 172,462
Additions 26,195
Disposals (50,825 )
At 30 September 2024 147,832
DEPRECIATION
At 1 October 2023 72,169
Charge for year 24,474
Eliminated on disposal (22,236 )
At 30 September 2024 74,407
NET BOOK VALUE
At 30 September 2024 73,425
At 30 September 2023 100,293

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 October 2023 121,640
Transfer to ownership (121,640 )
At 30 September 2024 -
DEPRECIATION
At 1 October 2023 58,519
Transfer to ownership (58,519 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 63,121

Machine Tool Engineers (E.K.) Limited (Registered number: SC048839)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year - 26,277
Between one and five years - 44,984
- 71,261

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
32,000 Ordinary £1 32,000 32,000

7. ULTIMATE CONTROLLING PARTY

Throughout the year the company was under the control of its directors.