Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30false82023-10-01falseNo description of principal activity8trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC160302 2023-10-01 2024-09-30 SC160302 2022-10-01 2023-09-30 SC160302 2024-09-30 SC160302 2023-09-30 SC160302 c:CompanySecretary1 2023-10-01 2024-09-30 SC160302 c:Director1 2023-10-01 2024-09-30 SC160302 c:RegisteredOffice 2023-10-01 2024-09-30 SC160302 d:PlantMachinery 2023-10-01 2024-09-30 SC160302 d:PlantMachinery 2024-09-30 SC160302 d:PlantMachinery 2023-09-30 SC160302 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC160302 d:MotorVehicles 2023-10-01 2024-09-30 SC160302 d:MotorVehicles 2024-09-30 SC160302 d:MotorVehicles 2023-09-30 SC160302 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC160302 d:FurnitureFittings 2023-10-01 2024-09-30 SC160302 d:FurnitureFittings 2024-09-30 SC160302 d:FurnitureFittings 2023-09-30 SC160302 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC160302 d:OfficeEquipment 2023-10-01 2024-09-30 SC160302 d:OfficeEquipment 2024-09-30 SC160302 d:OfficeEquipment 2023-09-30 SC160302 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC160302 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC160302 d:CurrentFinancialInstruments 2024-09-30 SC160302 d:CurrentFinancialInstruments 2023-09-30 SC160302 d:Non-currentFinancialInstruments 2024-09-30 SC160302 d:Non-currentFinancialInstruments 2023-09-30 SC160302 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 SC160302 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 SC160302 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 SC160302 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 SC160302 d:ShareCapital 2024-09-30 SC160302 d:ShareCapital 2023-09-30 SC160302 d:SharePremium 2024-09-30 SC160302 d:SharePremium 2023-09-30 SC160302 d:RetainedEarningsAccumulatedLosses 2024-09-30 SC160302 d:RetainedEarningsAccumulatedLosses 2023-09-30 SC160302 c:OrdinaryShareClass1 2023-10-01 2024-09-30 SC160302 c:OrdinaryShareClass1 2024-09-30 SC160302 c:OrdinaryShareClass1 2023-09-30 SC160302 c:FRS102 2023-10-01 2024-09-30 SC160302 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC160302 c:FullAccounts 2023-10-01 2024-09-30 SC160302 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC160302 d:WithinOneYear 2024-09-30 SC160302 d:WithinOneYear 2023-09-30 SC160302 d:BetweenOneFiveYears 2024-09-30 SC160302 d:BetweenOneFiveYears 2023-09-30 SC160302 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC160302










M H ENGINEERING (FIFE) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
M H ENGINEERING (FIFE) LIMITED
 

COMPANY INFORMATION


Director
Mr M Hoskisson 




Company secretary
Mrs L Hoskisson



Registered number
SC160302



Registered office
Unit 6 Buko Business Centre
Southfield Industrial Estate

Glenrothes

Scotland

KY6 2SE




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
M H ENGINEERING (FIFE) LIMITED
REGISTERED NUMBER: SC160302

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
232,752
182,957

  
232,752
182,957

Current assets
  

Stocks
  
37,145
47,018

Debtors: amounts falling due within one year
 5 
391,703
434,558

Bank and cash balances
  
480,026
477,769

  
908,874
959,345

Creditors: amounts falling due within one year
 6 
(357,618)
(426,021)

Net current assets
  
 
 
551,256
 
 
533,324

Total assets less current liabilities
  
784,008
716,281

Creditors: amounts falling due after more than one year
 7 
(138,576)
(221,748)

Provisions for liabilities
  

Deferred tax
  
(56,314)
(43,556)

  
 
 
(56,314)
 
 
(43,556)

Net assets
  
589,118
450,977


Capital and reserves
  

Called up share capital 
 8 
10
10

Share premium account
  
29,999
29,999

Profit and loss account
  
559,109
420,968

  
589,118
450,977


Page 1

 
M H ENGINEERING (FIFE) LIMITED
REGISTERED NUMBER: SC160302

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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: 




Mr M Hoskisson
Director

Date: 19 February 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
M H ENGINEERING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

M H Engineering (Fife) Limited is a private company, limited by shares, incorporated in Scotland with registration number SC160302. The registered office is Unit 6 Buko Business Centre, Southfield Industrial Estate, Glenrothes, KY6 2SE.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
M H ENGINEERING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
M H ENGINEERING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

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, on the following basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
33%
straight line

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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
M H ENGINEERING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
457,054
142,574
1,960
2,585
604,173


Additions
49,083
45,000
-
1,341
95,424



At 30 September 2024

506,137
187,574
1,960
3,926
699,597



Depreciation


At 1 October 2023
330,322
86,349
1,960
2,585
421,216


Charge for the year on owned assets
27,444
17,917
-
268
45,629



At 30 September 2024

357,766
104,266
1,960
2,853
466,845



Net book value



At 30 September 2024
148,371
83,308
-
1,073
232,752



At 30 September 2023
126,732
56,225
-
-
182,957


5.


Debtors

2024
2023
£
£


Trade debtors
226,378
248,455

Other debtors
132,754
153,532

Prepayments and accrued income
3,688
3,688

Tax recoverable
28,883
28,883

391,703
434,558


Included within other debtors due within one year is a loan to the director, amounting to £109,368 (2023 - £131,145)



Page 6

 
M H ENGINEERING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
75,662
70,090

Trade creditors
32,577
29,674

Other taxation and social security
93,398
48,067

Obligations under finance lease and hire purchase contracts
35,387
23,341

Other creditors
105,273
222,739

Accruals and deferred income
15,321
32,110

357,618
426,021


Bank loans of £65,662 (2023: £60,090) are secured by a bond and floating charge over the assets of the company.
Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
29,880
105,543

Obligations under finance leases and hire purchase contracts
108,696
116,205

138,576
221,748


Bank loans of £23,213 (2023: £88,876) are secured by a bond and floating charge over the assets of the company.
Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary shares of £1.00 each
10
10


Page 7

 
M H ENGINEERING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
26,556
956

Later than 1 year and not later than 5 years
99,089
1,912

125,645
2,868


Page 8