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Registered number: SC714159









MJES MEC. Y PTAS. EN MARCHA UK, LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
REGISTERED NUMBER: SC714159

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,957
3,861

  
26,957
3,861

Current assets
  

Debtors: amounts falling due within one year
 5 
6,686,509
3,049,083

Cash at bank and in hand
 6 
1,029,375
25,979

  
7,715,884
3,075,062

Creditors: amounts falling due within one year
 7 
(5,022,131)
(1,903,626)

Net current assets
  
 
 
2,693,753
 
 
1,171,436

Total assets less current liabilities
  
2,720,710
1,175,297

  

Net assets
  
2,720,710
1,175,297


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,720,610
1,175,197

  
2,720,710
1,175,297


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 


Pedro Antonio Fernandez Mora
Director

Date: 26 March 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Mjes Mec. Y Ptas. En Marcha UK, Limited is a company registered in Scotland. Its registered office address is 5 South Charlotte Street, Edinburgh, Scotland, EH2 4AN.
The financial statements are presented in Sterling (£), rounded to the nearest £1. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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:

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.

 
2.4

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.

 
2.5

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.

 
2.6

Taxation

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.

Page 3

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

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 method.

Depreciation is provided on the following basis:

Plant and machinery
-
5 years
Fixtures and fittings
-
5 years
Computer equipment
-
3 years
Other fixed assets
-
5 years

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 2).

Page 4

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
-
-
4,775
-
4,775


Additions
9,416
2,567
-
14,431
26,414



At 31 December 2024

9,416
2,567
4,775
14,431
31,189



Depreciation


At 1 January 2024
-
-
914
-
914


Charge for the year on owned assets
796
272
684
1,566
3,318



At 31 December 2024

796
272
1,598
1,566
4,232



Net book value



At 31 December 2024
8,620
2,295
3,177
12,865
26,957



At 31 December 2023
-
-
3,861
-
3,861


5.


Debtors

2024
2023
£
£


Trade debtors
1,735,677
424,531

Amounts owed by group undertakings
107,502
2,577,806

Other debtors
827,844
24,282

Prepayments and accrued income
4,015,486
22,464

6,686,509
3,049,083


Page 5

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,029,375
25,979

1,029,375
25,979



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,999,257
100,744

Amounts owed to group undertakings
624,237
1,200,000

Corporation tax
625,367
112,132

Other taxation and social security
-
229,324

Other creditors
1,645,065
245,426

Accruals and deferred income
128,205
16,000

5,022,131
1,903,626


The following liabilities were secured:

2024
2023
£
£



Other creditors
1,640,874
245,426

1,640,874
245,426

Details of security provided:

Other creditors of £1,640,874 (2023 - £245,426) are secured against specific trade debtors of the company.


8.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



100 (2023 - 100) Ordinary Shares shares of £1.00 each
100
100


Page 6

 
MJES MEC. Y PTAS. EN MARCHA UK, LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £9,765 (2023 - £Nil). Contributions totalling £4,191 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Controlling party

The immediate parent company is Montajes Mecanicos Y Puestas En Marcha J.R.,S.L.U., a company registered in Spain. 


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 26 March 2025 by Engin Zekia Bsc FCA (Senior Statutory Auditor) on behalf of Adler Shine LLP.

 
Page 7