Registration number: 07692626

MEC Scaffolding Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

MEC Scaffolding Limited

(Registration number: 07692626)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	468,097	386,062
Investment property	5	571,176	571,176
		1,039,273	957,238
Current assets
Stocks	6	6,327	30,184
Debtors	7	367,654	439,644
Cash at bank and in hand		168,066	247,077
		542,047	716,905
Creditors: Amounts falling due within one year	8	(182,438)	(256,642)
Net current assets		359,609	460,263
Total assets less current liabilities		1,398,882	1,417,501
Creditors: Amounts falling due after more than one year	8	(320,062)	(301,166)
Provisions for liabilities		(51,243)	(37,466)
Net assets		1,027,577	1,078,869
Capital and reserves
Called up share capital	9	100	100
Retained earnings		1,027,477	1,078,769
Shareholders' funds		1,027,577	1,078,869

MEC Scaffolding Limited

(Registration number: 07692626)
Balance Sheet as at 31 December 2024 (continued)

For the financial 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.

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 and 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 4 September 2025 and signed on its behalf by:
 

......................................... M T Etheridge Director

MEC Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
60 Newland Street
Coleford
Gloucestershire
GL16 8AL
United Kingdom

2	Accounting policies

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.

Key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances..

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, 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 measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

MEC Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

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.

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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
Plant & Machinery	33% Reducing Balance
Office Equipment	25% Reducing Balance
Motor Vehicles	25% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 stock to its present location and condition.

Borrowings

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.

Defined contribution pension obligation

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.

MEC Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 22).

4	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	878,582	7,552	342,588	1,228,722
Additions	95,044	-	233,790	328,834
Disposals	-	-	(172,924)	(172,924)
At 31 December 2024	973,626	7,552	403,454	1,384,632
Depreciation
At 1 January 2024	683,857	5,975	152,828	842,660
Charge for the year	95,623	395	17,485	113,503
Eliminated on disposal	-	-	(39,628)	(39,628)
At 31 December 2024	779,480	6,370	130,685	916,535
Carrying amount
At 31 December 2024	194,146	1,182	272,769	468,097
At 31 December 2023	194,725	1,577	189,760	386,062

MEC Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5	Investment properties

	2024 £
At 1 January	571,176
At 31 December	571,176

The directors undertook a review of the valuation of the investment property held by the company resulting in an assessment that the cost value of £571,176 reflected the total fair value of the property held as at 31 December 2024. This valuation is based on a directors' estimate using market values of comparable properties in similar locations.

6

Stocks

	2024 £	2023 £
Work in progress	6,327	30,184

7

Debtors

Current	2024 £	2023 £
Trade debtors	138,080	228,406
Prepayments	12,547	2,547
Other debtors	217,027	208,691
	367,654	439,644

MEC Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	67,062	72,000
Trade creditors		69,590	70,215
Taxation and social security		23,347	64,018
Accruals and deferred income		22,439	50,409
		182,438	256,642

Creditors include bank loans which are secured of £22,000 (2023 - £22,000) and net obligations under finance lease and hire purchase contracts which are secured of £45,062 (2023 - £50,000).

Bank loans are secured against the investment property of the company and hire purchase contracts are secured against the underlying assets to which they relate.

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	320,062	301,166

Creditors include bank loans which are secured of £275,000 (2023 - £297,000) and net obligations under finance lease and hire purchase contracts which are secured of £45,062 (2023 - £4,166).

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

MEC Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	275,000	297,000
Hire purchase contracts	45,062	4,166
	320,062	301,166

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	22,000	22,000
Hire purchase contracts	45,062	50,000
	67,062	72,000