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Registration number: 05166512

M P Engineering (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

M P Engineering (UK) Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

M P Engineering (UK) Limited

Company Information

Directors

Nicola Needham

Jason Poole

Dianne Lillian Poole

Michael Paul Poole

Jake Adam Poole

Company secretary

Dianne Lillian Poole

Registered office

2 Maizefield
Hinckley Fields Industrial Estate
Hinckley
Leicestershire
LE10 1YF

Accountants

M Ball & Co Limited
The Hemington
Millhouse Business Centre
Station Road
Castle Donington
Derby
DE74 2NJ

 

M P Engineering (UK) Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Nicola Needham

Jason Poole

Dianne Lillian Poole - Company secretary and director

Michael Paul Poole

Jake Adam Poole

Principal activity

The principal activity of the company is Machining

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
Nicola Needham
Director

 

M P Engineering (UK) Limited

(Registration number: 05166512)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

917

6,417

Tangible assets

5

3,063,889

3,525,239

 

3,064,806

3,531,656

Current assets

 

Stocks

6

66,432

52,035

Debtors

7

3,843,926

2,968,578

Cash at bank and in hand

 

153

453,816

 

3,910,511

3,474,429

Creditors: Amounts falling due within one year

8

(1,527,866)

(1,442,552)

Net current assets

 

2,382,645

2,031,877

Total assets less current liabilities

 

5,447,451

5,563,533

Creditors: Amounts falling due after more than one year

8

(633,328)

(1,068,918)

Provisions for liabilities

(670,716)

(582,963)

Net assets

 

4,143,407

3,911,652

Capital and reserves

 

Called up share capital

4

4

Retained earnings

4,143,403

3,911,648

Shareholders' funds

 

4,143,407

3,911,652

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

M P Engineering (UK) Limited

(Registration number: 05166512)
Balance Sheet as at 30 September 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
Nicola Needham
Director

 

M P Engineering (UK) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Maizefield
Hinckley Fields Industrial Estate
Hinckley
Leicestershire
LE10 1YF

These financial statements were authorised for issue by the Board on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Profit and Loss account at the same rate as the depreciation on the assets to whihc the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Profit and Loss account in the same period as the related expenditure.

 

M P Engineering (UK) Limited

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

Finance income and costs policy

Interest income is recognised in the Profit and Loss account using the effective interest method.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

2% on cost

Plant and machinery

10% on cost

Motor vehicles

20% on cost

Fixtures and fittings

10% on cost

Computer equipment

33% on cost

 

M P Engineering (UK) Limited

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life of 20 years,

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

M P Engineering (UK) Limited

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 43 (2023 - 43).

 

M P Engineering (UK) Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

110,000

110,000

At 30 September 2024

110,000

110,000

Amortisation

At 1 October 2023

103,583

103,583

Amortisation charge

5,500

5,500

At 30 September 2024

109,083

109,083

Carrying amount

At 30 September 2024

917

917

At 30 September 2023

6,417

6,417

 

M P Engineering (UK) Limited

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

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

1,139,808

78,921

7,133,962

99,430

34,915

8,487,036

Additions

-

1,926

29,782

1,581

-

33,289

At 30 September 2024

1,139,808

80,847

7,163,744

101,011

34,915

8,520,325

Depreciation

At 1 October 2023

201,969

57,055

4,593,932

94,293

14,548

4,961,797

Charge for the year

19,800

4,615

461,376

1,864

6,984

494,639

At 30 September 2024

221,769

61,670

5,055,308

96,157

21,532

5,456,436

Carrying amount

At 30 September 2024

918,039

19,177

2,108,436

4,854

13,383

3,063,889

At 30 September 2023

937,839

21,866

2,540,030

5,137

20,367

3,525,239

Included within the net book value of land and buildings above is £918,040 (2023 - £937,839) in respect of freehold land and buildings.
 

 

M P Engineering (UK) Limited

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

6

Stocks

2024
£

2023
£

Other inventories

66,432

52,035

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,065,591

789,371

Amounts owed by related parties

2,776,686

2,176,666

Prepayments

 

1,649

2,541

   

3,843,926

2,968,578

 

M P Engineering (UK) Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

630,995

599,464

Trade creditors

 

348,926

503,209

Taxation and social security

 

531,744

253,926

Accruals and deferred income

 

5,000

45,138

Other creditors

 

11,201

40,815

 

1,527,866

1,442,552

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

633,328

1,068,918

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

262,229

436,639

Hire purchase contracts

371,099

632,279

633,328

1,068,918

Current loans and borrowings

2024
£

2023
£

Bank borrowings

174,837

175,350

Bank overdrafts

165,156

1,139

Hire purchase contracts

291,002

422,975

630,995

599,464