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Company registration number:
09900756
MCES Hire Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
MCES Hire Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of MCES Hire Limited
Year ended
31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
MCES Hire Limited
for the year ended
31 December 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
MCES Hire Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
MCES Hire Limited
and state those matters that we have agreed to state to the Board of Directors of
MCES Hire Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
MCES Hire Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
MCES Hire Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
MCES Hire Limited
. You consider that
MCES Hire Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of MCES Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A G Smith & Co Ltd
Chartered Certified Accountants
Unit 8
Laceby Business Park
Laceby
North East Lincs
DN37 7DP
United Kingdom
Date:
9 July 2025
MCES Hire Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
318,694
 
321,149
 
Investments 6
1
 
1
 
318,695
 
321,150
 
Current assets    
Stocks
675
 
5,557
 
Debtors 7
79,606
 
1,800
 
Cash at bank and in hand
33,744
 
78,278
 
114,025
 
85,635
 
Creditors: amounts falling due within one year 8
(306,048
)
(283,405
)
Net current liabilities
(192,023
)
(197,770
)
Total assets less current liabilities 126,672   123,380  
Creditors: amounts falling due after more than one year 9
(22,377
)
(55,454
)
Provisions for liabilities
(23,446
)
(26,543
)
Net assets
80,849
 
41,383
 
Capital and reserves    
Called up share capital
101
 
101
 
Profit and loss account
80,748
 
41,282
 
Shareholders funds
80,849
 
41,383
 
For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
9 July 2025
, and are signed on behalf of the board by:
M Crome
Director
Company registration number:
09900756
MCES Hire Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1 Limber Road
,
Kirmington
,
Ulceby
,
North Lincolnshire
,
DN39 6YB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reiiably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measure reliably.
Turnover from the hire of equipment is recognised in the period to which the hire related.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildingsNil
Plant and machinery
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
Office equipment
33% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
210,604
 
305,542
 
516,146
 
Additions
10,717
 
6,760
 
17,477
 
At
31 December 2024
221,321
 
312,302
 
533,623
 
Depreciation      
At
1 January 2024
-  
194,997
 
194,997
 
Charge -  
19,932
 
19,932
 
At
31 December 2024
-  
214,929
 
214,929
 
Carrying amount      
At
31 December 2024
221,321
 
97,373
 
318,694
 
At 31 December 2023
210,604
 
110,545
 
321,149
 

6 Investments

Other investments other than loans
£
Cost  
At
1 January 2024
1
 
At
31 December 2024
1
 
Impairment  
At
1 January 2024
and
31 December 2024
-  
Carrying amount  
At
31 December 2024
1
 
At 31 December 2023
1
 

7 Debtors

20242023
££
Trade debtors
24,000
 
1,800
 
Other debtors
55,606
  -  
79,606
 
1,800
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors -  
7,409
 
Taxation and social security
49,148
 
26,447
 
Other creditors
246,900
 
239,549
 
306,048
 
283,405
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
4,167
 
14,167
 
Other creditors
18,210
 
41,287
 
22,377
 
55,454
 
The following secured debts are included within creditors:
GRF Hire Limited £41,287 (2023: £63,683).
The loan from GRF Hire Limited included in Other Creditors is secured by a first legal charge on the freehold property.

10 Guarantees and other financial commitments

The company operates a defined contribution 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 £4,800 (2023: £70,800). There were no contributions outstanding at the period end.