IRIS Accounts Production v24.3.2.46 SC489965 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4899652023-09-30SC4899652024-09-30SC4899652023-10-012024-09-30SC4899652022-09-30SC4899652022-10-012023-09-30SC4899652023-09-30SC489965ns15:Scotland2023-10-012024-09-30SC489965ns14:PoundSterling2023-10-012024-09-30SC489965ns10:Director12023-10-012024-09-30SC489965ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC489965ns10:SmallEntities2023-10-012024-09-30SC489965ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC489965ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC489965ns10:FullAccounts2023-10-012024-09-30SC489965ns10:Director22023-10-012024-09-30SC489965ns10:RegisteredOffice2023-10-012024-09-30SC489965ns5:CurrentFinancialInstruments2024-09-30SC489965ns5:CurrentFinancialInstruments2023-09-30SC489965ns5:ShareCapital2024-09-30SC489965ns5:ShareCapital2023-09-30SC489965ns5:RetainedEarningsAccumulatedLosses2024-09-30SC489965ns5:RetainedEarningsAccumulatedLosses2023-09-30SC489965ns5:PlantMachinery2023-10-012024-09-30SC489965ns5:FurnitureFittings2023-10-012024-09-30SC489965ns5:MotorVehicles2023-10-012024-09-30SC489965ns5:LeaseholdImprovements2023-09-30SC489965ns5:PlantMachinery2023-09-30SC489965ns5:FurnitureFittings2023-09-30SC489965ns5:LeaseholdImprovements2023-10-012024-09-30SC489965ns5:LeaseholdImprovements2024-09-30SC489965ns5:PlantMachinery2024-09-30SC489965ns5:FurnitureFittings2024-09-30SC489965ns5:LeaseholdImprovements2023-09-30SC489965ns5:PlantMachinery2023-09-30SC489965ns5:FurnitureFittings2023-09-30SC489965ns5:MotorVehicles2023-09-30SC489965ns5:ComputerEquipment2023-09-30SC489965ns5:ComputerEquipment2023-10-012024-09-30SC489965ns5:MotorVehicles2024-09-30SC489965ns5:ComputerEquipment2024-09-30SC489965ns5:MotorVehicles2023-09-30SC489965ns5:ComputerEquipment2023-09-30SC489965ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-30SC489965ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-012024-09-30SC489965ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-09-30SC489965ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-30SC489965ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC489965ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30SC489965ns5:AcceleratedTaxDepreciationDeferredTax2024-09-30SC489965ns5:AcceleratedTaxDepreciationDeferredTax2023-09-30SC489965ns5:DeferredTaxation2023-09-30SC489965ns5:DeferredTaxation2023-10-012024-09-30SC489965ns5:DeferredTaxation2024-09-30
REGISTERED NUMBER: SC489965 (Scotland)












Financial Statements for the Year Ended 30 September 2024

for

MARINE ELECTRICAL ENGINEERING LTD

MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARINE ELECTRICAL ENGINEERING LTD

Company Information
for the Year Ended 30 September 2024







DIRECTORS: I Richmond
A J Marshall





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC489965 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,432 186,122

CURRENT ASSETS
Stocks 5 58,750 63,000
Debtors 6 776,626 514,093
Cash at bank 857,620 893,461
1,692,996 1,470,554
CREDITORS
Amounts falling due within one year 7 422,999 281,623
NET CURRENT ASSETS 1,269,997 1,188,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,475,429

1,375,053

PROVISIONS FOR LIABILITIES 8 49,579 39,399
NET ASSETS 1,425,850 1,335,654

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,425,750 1,335,554
SHAREHOLDERS' FUNDS 1,425,850 1,335,654

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.

MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)

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.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





I Richmond - Director


MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)

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

1. STATUTORY INFORMATION

Marine Electrical Engineering Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 7,118 45,924 18,248
Additions - 2,897 226
Disposals - - -
At 30 September 2024 7,118 48,821 18,474
DEPRECIATION
At 1 October 2023 - 31,387 14,144
Charge for year - 4,667 1,228
Eliminated on disposal - - -
At 30 September 2024 - 36,054 15,372
NET BOOK VALUE
At 30 September 2024 7,118 12,767 3,102
At 30 September 2023 7,118 14,537 4,104

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 261,808 10,008 343,106
Additions 81,518 - 84,641
Disposals (40,738 ) - (40,738 )
At 30 September 2024 302,588 10,008 387,009
DEPRECIATION
At 1 October 2023 107,103 4,350 156,984
Charge for year 46,432 3,336 55,663
Eliminated on disposal (31,070 ) - (31,070 )
At 30 September 2024 122,465 7,686 181,577
NET BOOK VALUE
At 30 September 2024 180,123 2,322 205,432
At 30 September 2023 154,705 5,658 186,122

MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 174,653
Disposals (40,738 )
At 30 September 2024 133,915
DEPRECIATION
At 1 October 2023 89,784
Charge for year 12,156
Eliminated on disposal (31,070 )
At 30 September 2024 70,870
NET BOOK VALUE
At 30 September 2024 63,045
At 30 September 2023 84,869

5. STOCKS
2024 2023
£    £   
Stocks 58,750 63,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 673,489 426,451
Other debtors 103,137 87,642
776,626 514,093

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 12,548
Trade creditors 228,952 98,735
Taxation and social security 171,319 145,508
Other creditors 22,728 24,832
422,999 281,623

MARINE ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: SC489965)

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

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 49,579 39,399

Deferred
tax
£   
Balance at 1 October 2023 39,399
Provided during year 10,180
Accelerated Capital Allowances
Balance at 30 September 2024 49,579

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £162,441 (2023 - £172,560) were paid to the directors .

The company was under the control of I Richmond and A J Marshall, the directors, throughout the current and previous year.