REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Mectek Mechanical Services Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Mectek Mechanical Services Limited |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Mectek Mechanical Services Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Mectek Mechanical Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the net invoiced value of goods and services, excluding valued added tax. |
Turnover is recognised in the period in which the goods and services were provided. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Office equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined using a first in first out basis. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences. |
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. |
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. |
Invoice discounting |
The debts discounted are included within trade debtors with a financing limit relating to proceeds received from the invoice discounter included within creditors. |
The interest element and other discount charges are recognised within the profit and loss account as they accrue. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Motor | Office |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Directors' current accounts | 100,312 | 142,992 |
Tax |
Amounts falling due after more than one year: |
Tax |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Advances under factoring |
arrangement |
Hire purchase contracts (see note 8) |
Trade creditors |
Amounts owed to related parties | 228,342 | 236,703 |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 144,029 | 83,791 |
Amounts due under factoring arrangements are secured against the assets of the company. |
Hire purchase liabilities are secured against the assets to which they relate to. |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Tax losses carried forward | ( |
) | ( |
) |
9,497 | 11,892 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Credit to Profit and Loss Account during year | ( |
) |
Balance at 31 March 2024 |
Mectek Mechanical Services Limited (Registered number: 03729737) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The directors maintain a loan account with the company. At the balance sheet date, the amounts owing from the directors is shown in the debtors note. The amounts are interest free and repayable upon demand. |