IRIS Accounts Production v25.2.0.378 SC241449 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2414492023-12-31SC2414492024-12-31SC2414492024-01-012024-12-31SC2414492022-12-31SC2414492023-01-012023-12-31SC2414492023-12-31SC241449ns15:Scotland2024-01-012024-12-31SC241449ns14:PoundSterling2024-01-012024-12-31SC241449ns10:Director12024-01-012024-12-31SC241449ns10:PrivateLimitedCompanyLtd2024-01-012024-12-31SC241449ns10:SmallEntities2024-01-012024-12-31SC241449ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-31SC241449ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-31SC241449ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC241449ns10:FullAccounts2024-01-012024-12-31SC241449ns10:Director32024-01-012024-12-31SC241449ns10:Director42024-01-012024-12-31SC241449ns10:CompanySecretary12024-01-012024-12-31SC241449ns10:RegisteredOffice2024-01-012024-12-31SC241449ns5:CurrentFinancialInstruments2024-12-31SC241449ns5:CurrentFinancialInstruments2023-12-31SC241449ns5:ShareCapital2024-12-31SC241449ns5:ShareCapital2023-12-31SC241449ns5:RetainedEarningsAccumulatedLosses2024-12-31SC241449ns5:RetainedEarningsAccumulatedLosses2023-12-31SC241449ns5:LandBuildings2024-01-012024-12-31SC241449ns5:PlantMachinery2024-01-012024-12-31SC241449ns5:LandBuildings2023-12-31SC241449ns5:PlantMachinery2023-12-31SC241449ns5:LandBuildings2024-12-31SC241449ns5:PlantMachinery2024-12-31SC241449ns5:LandBuildings2023-12-31SC241449ns5:PlantMachinery2023-12-31SC241449ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-31SC241449ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31SC241449ns5:CurrentFinancialInstruments2024-01-012024-12-31
REGISTERED NUMBER: SC241449 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Mount Vernon Engineering Company
(Glasgow) Limited
Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER








Mount Vernon Engineering Company
(Glasgow) Limited (Registered number: SC241449)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mount Vernon Engineering Company
(Glasgow) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D N Graham
Mrs A Tedeschi
Mrs A Mitchell





SECRETARY: Mrs A Tedeschi





REGISTERED OFFICE: Block 1, Unit 6
Cadzow Industrial Estate
Low Waters Road
Hamilton
Lanarkshire
ML3 7QU





REGISTERED NUMBER: SC241449 (Scotland)





ACCOUNTANTS: Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER
Page 1
Mount Vernon Engineering Company
(Glasgow) Limited (Registered number: SC241449)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 115,103 130,524

CURRENT ASSETS
Stocks 93,535 48,912
Debtors 5 118,667 208,249
Cash at bank and in hand 902,104 949,524
1,114,306 1,206,685
CREDITORS
Amounts falling due within one year 6 216,560 280,469
NET CURRENT ASSETS 897,746 926,216
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,012,849
1,056,740

PROVISIONS FOR LIABILITIES 3,819 3,260
NET ASSETS 1,009,030 1,053,480

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 1,007,530 1,051,980
SHAREHOLDERS' FUNDS 1,009,030 1,053,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
Mount Vernon Engineering Company
(Glasgow) Limited (Registered number: SC241449)

Balance Sheet - continued
31 December 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:





Mrs A Tedeschi - Director


The notes form part of these financial statements

Page 3
Mount Vernon Engineering Company
(Glasgow) Limited (Registered number: SC241449)

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

1. STATUTORY INFORMATION

Mount Vernon Engineering Company (Glasgow) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of the provision of engineering services during the period, exclusive of Value Added Tax and trade discounts. The company recognises revenue when it has the right to receive it.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Straight line over 25 years
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Page 4 continued...
Mount Vernon Engineering Company
(Glasgow) Limited (Registered number: SC241449)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 444,614 450,925 895,539
Additions - 7,465 7,465
At 31 December 2024 444,614 458,390 903,004
DEPRECIATION
At 1 January 2024 334,228 430,787 765,015
Charge for year 15,771 7,115 22,886
At 31 December 2024 349,999 437,902 787,901
NET BOOK VALUE
At 31 December 2024 94,615 20,488 115,103
At 31 December 2023 110,386 20,138 130,524

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 101,089 145,465
Other debtors 17,578 62,784
118,667 208,249

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 51,457 117,583
Taxation and social security 53,205 16,807
Other creditors 111,898 146,079
216,560 280,469

Included in other creditors are directors' current accounts which are unsecured, interest free and repayable on demand.

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £126,000 (2023 - £96,000) were paid to the directors.

Page 5