30 27 MEB Building Services Limited 05939719 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of building services. Digita Accounts Production Advanced 6.30.9574.0 true true 05939719 2023-04-01 2024-03-31 05939719 2024-03-31 05939719 core:RetainedEarningsAccumulatedLosses 2024-03-31 05939719 core:ShareCapital 2024-03-31 05939719 core:CurrentFinancialInstruments 2024-03-31 05939719 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05939719 core:FurnitureFittingsToolsEquipment 2024-03-31 05939719 core:MotorVehicles 2024-03-31 05939719 core:OtherPropertyPlantEquipment 2024-03-31 05939719 bus:SmallEntities 2023-04-01 2024-03-31 05939719 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05939719 bus:FilletedAccounts 2023-04-01 2024-03-31 05939719 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05939719 bus:RegisteredOffice 2023-04-01 2024-03-31 05939719 bus:Director2 2023-04-01 2024-03-31 05939719 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05939719 core:FurnitureFittings 2023-04-01 2024-03-31 05939719 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05939719 core:MotorVehicles 2023-04-01 2024-03-31 05939719 core:OfficeEquipment 2023-04-01 2024-03-31 05939719 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 05939719 core:PlantMachinery 2023-04-01 2024-03-31 05939719 countries:EnglandWales 2023-04-01 2024-03-31 05939719 2023-03-31 05939719 core:FurnitureFittingsToolsEquipment 2023-03-31 05939719 core:MotorVehicles 2023-03-31 05939719 core:OtherPropertyPlantEquipment 2023-03-31 05939719 2022-04-01 2023-03-31 05939719 2023-03-31 05939719 core:RetainedEarningsAccumulatedLosses 2023-03-31 05939719 core:ShareCapital 2023-03-31 05939719 core:CurrentFinancialInstruments 2023-03-31 05939719 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05939719 core:FurnitureFittingsToolsEquipment 2023-03-31 05939719 core:MotorVehicles 2023-03-31 05939719 core:OtherPropertyPlantEquipment 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 05939719

MEB Building Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

MEB Building Services Limited

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

20,905,680

14,119,307

Cost of sales

 

(18,274,748)

(12,155,136)

Gross profit

 

2,630,932

1,964,171

Administrative expenses

 

(1,600,165)

(1,607,340)

Operating profit

 

1,030,767

356,831

Other interest receivable and similar income

 

2,125

-

Interest payable and similar expenses

 

(261)

(9,380)

   

1,864

(9,380)

Profit before tax

1,032,631

347,451

Tax on profit

 

(260,003)

(74,916)

Profit for the financial year

 

772,628

272,535

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

MEB Building Services Limited

(Registration number: 05939719)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

46,592

107,867

Current assets

 

Stocks

5

2,997,797

2,628,990

Debtors

6

2,325,480

2,384,159

Cash at bank and in hand

 

324,098

1,419,887

 

5,647,375

6,433,036

Creditors: Amounts falling due within one year

7

(2,226,263)

(3,431,169)

Net current assets

 

3,421,112

3,001,867

Total assets less current liabilities

 

3,467,704

3,109,734

Provisions for liabilities

(8,636)

(23,294)

Net assets

 

3,459,068

3,086,440

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,458,968

3,086,340

Shareholders' funds

 

3,459,068

3,086,440

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 

.........................................
Mr M Brown
Director

 

MEB Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Unit 11
Stadium Business Park
Eurolink Industrial Estate
Sittingbourne
Kent
ME10 3BG

These financial statements were authorised for issue by the director on 24 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

 

MEB Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Judgements

The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results. The principal areas where judgement was exercised are as follows:

i) Recoverability of trade debtors: the directors annually assess whether a bad debt provision is required for any bad or doubtful debtor balances.

ii) Tangible fixed assets: the directors annually assess both the residual value of these assets and the expected useful life of such assets based on experience.

iii) Disposal costs provision: the directors annually assess the expected disposal costs in relation to waste held at the year end that is yet to be disposed of.

iv) Work in progress: the directors anually assess partially finished work. Any non-recoverable work in progress is excluded.

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.

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 balance sheet 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.

 

MEB Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Plant and machinery

25%

Motor vehicles

25%

Fixtures and fittings

25%

Office equipment

33%

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

MEB Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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 the director) during the year, was 30 (2023 - 27).

 

MEB Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

52,674

174,362

148,419

375,455

At 31 March 2024

52,674

174,362

148,419

375,455

Depreciation

At 1 April 2023

48,585

120,081

98,922

267,588

Charge for the year

1,585

35,657

24,033

61,275

At 31 March 2024

50,170

155,738

122,955

328,863

Carrying amount

At 31 March 2024

2,504

18,624

25,464

46,592

At 31 March 2023

4,089

54,281

49,497

107,867

5

Stocks

2024
£

2023
£

Work in progress

2,547,797

2,128,990

Other inventories

450,000

500,000

2,997,797

2,628,990

6

Debtors

2024
£

2023
£

Trade debtors

1,480,447

1,661,119

Prepayments

3,213

3,213

Other debtors

841,820

719,827

2,325,480

2,384,159

 

MEB Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

880,000

1,961,000

Trade creditors

 

945,751

944,339

Taxation and social security

 

357,580

372,051

Accruals and deferred income

 

3,630

151,311

Other creditors

 

39,302

2,468

 

2,226,263

3,431,169

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

880,000

1,961,000