Midland Engineering Services Limited 31/03/2025 iXBRL

Company registration number: SC120669

Midland Engineering Services Limited

Unaudited filleted financial statements

31 March 2025

Midland Engineering Services Limited

Contents

Balance sheet

Notes to the financial statements

Midland Engineering Services Limited

Balance sheet

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	713		-
		_______		_______
			713		-

Current assets
Stocks		412,721		452,857
Debtors	6	405,164		288,946
Cash at bank and in hand		17,895		18,549
		_______		_______
		835,780		760,352
Creditors: amounts falling due
within one year	7	( 615,447)		( 443,260)
		_______		_______
Net current assets			220,333		317,092
			_______		_______
Total assets less current liabilities			221,046		317,092

Creditors: amounts falling due
after more than one year	8		-		( 48,472)
			_______		_______
Net assets			221,046		268,620
			_______		_______

Capital and reserves
Called up share capital			79,210		79,210
Profit and loss account			141,836		189,410
			_______		_______
Shareholders funds			221,046		268,620
			_______		_______

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

Steven Thomas

Director

Company registration number: SC120669

Midland Engineering Services Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Units 20 and 21 Armadale Industrial Estate, Lower Bathville, Armadale, West Lothian, EH48 2ND.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have assessed the Company’s ability to continue as a going concern and believes that it is appropriate to prepare the financial statements on this basis, as the Company has adequate resources to meet its obligations as they fall due for at least twelve months from the reporting date.

Turnover

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

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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, except to the extent 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 in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Long leasehold property	-	50 %	straight line
Plant and machinery	-	33.3 %	straight line
Fittings fixtures and equipment	-	33.3 %	straight line
Motor vehicles	-	33.3 %	straight line
Computer equipment	-	33.3 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

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.

Financial instruments

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.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments.

Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Defined contribution plans

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Computer Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	13,319	42,359	43,931	10,322	109,931
Additions	-	-	-	1,070	1,070
	_______	_______	_______	_______	_______
At 31 March 2025	13,319	42,359	43,931	11,392	111,001
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	13,319	42,359	43,931	10,322	109,931
Charge for the year	-	-	-	357	357
	_______	_______	_______	_______	_______
At 31 March 2025	13,319	42,359	43,931	10,679	110,288
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	-	-	-	713	713
	_______	_______	_______	_______	_______
At 31 March 2024	-	-	-	-	-
	_______	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	405,162	288,946
Other debtors	2	-
	_______	_______
	405,164	288,946
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	308,999	263,200
Trade creditors	270,500	110,039
Corporation tax	7,077	26,307
Social security and other taxes	21,823	38,024
Other creditors	7,048	5,690
	_______	_______
	615,447	443,260
	_______	_______

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	-	48,472
	_______	_______

9. Directors advances, credits and guarantees

	Balance brought forward and o/standing	Balance brought forward and o/standing
	2025	2024
	£	£
Steven Thomas	35	35
	_______	_______

Loans from the directors and repayable on demand.

10. Controlling party

The directors Steven P Thomas and Pamela A Thomas are considered to be the controlling parties.