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REGISTERED NUMBER: 10416161 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

MWAM Specialist Engineers Limited

MWAM Specialist Engineers Limited (Registered number: 10416161)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MWAM Specialist Engineers Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr M D Cook
Mr W Hodsman-Summers
Mr M R McGibbon
Mr A P Pratt





REGISTERED OFFICE: Rowan House
7 West Bank
Scarborough
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 10416161 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

MWAM Specialist Engineers Limited (Registered number: 10416161)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 353,441 388,617

CURRENT ASSETS
Stocks 139,700 140,500
Debtors 5 305,677 369,378
Cash at bank 111,856 169,128
557,233 679,006
CREDITORS
Amounts falling due within one year 6 219,118 337,898
NET CURRENT ASSETS 338,115 341,108
TOTAL ASSETS LESS CURRENT
LIABILITIES

691,556

729,725

PROVISIONS FOR LIABILITIES 88,360 87,517
NET ASSETS 603,196 642,208

CAPITAL AND RESERVES
Called up share capital 16 16
Retained earnings 603,180 642,192
SHAREHOLDERS' FUNDS 603,196 642,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

MWAM Specialist Engineers Limited (Registered number: 10416161)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:




Mr M D Cook - Director Mr W Hodsman-Summers - Director




Mr M R McGibbon - Director Mr A P Pratt - Director


MWAM Specialist Engineers Limited (Registered number: 10416161)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

MWAM Specialist Engineers Limited is a private company, limited by shares , registered in England and Wales. 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.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and Over the terms of the lease

Stocks
Stocks incorporate Inventory Stock and Work in Progress

Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price of projects, less costs to complete and sell.

Inventory Stock is stated at the lower of cost or net realisable value.

Stock and Work in Progress are assessed for impairment at each reporting date. If the carrying value is impaired, such value is reduced to the impaired value less estimated costs of disposal.

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.

MWAM Specialist Engineers Limited (Registered number: 10416161)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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 15 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 603,009
Additions 21,043
Disposals (8,500 )
At 31 October 2024 615,552
DEPRECIATION
At 1 November 2023 214,392
Charge for year 54,670
Eliminated on disposal (6,951 )
At 31 October 2024 262,111
NET BOOK VALUE
At 31 October 2024 353,441
At 31 October 2023 388,617

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 297,263 349,123
Other debtors 8,414 20,255
305,677 369,378

MWAM Specialist Engineers Limited (Registered number: 10416161)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 77,036 102,144
Taxation and social security 81,258 52,614
Other creditors 60,824 183,140
219,118 337,898

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.24 31.10.23
£    £   
Within one year - 28,800

8. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of MWAM Holdings Limited, whose registered office is Rowan House, 7 West Bank, Scarborough, North Yorkshire, YO12 4DX

Administrative cost of MWAM Holdings Limited are met in full by MWAM Specialist Engineers Limited to the value of £819 (2023 - £1,470).