MCE Electrical Contractors Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

MCE Electrical Contractors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09646975 . The registered office is Progress Works, Hall Lane, Bradford, West Yorkshire, BD4 7DN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	2% Straight line
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Straight line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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MCE Electrical Contractors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2023: 12)

4. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2024	68,240	149,570	7,096	224,906
Additions	-	63,636	1,688	65,324
Disposals	-	(26,425 )	-	(26,425 )

As at 31 December 2024	68,240	186,781	8,784	263,805

Depreciation
As at 1 January 2024	1,365	85,575	6,604	93,544
Provided during the period	1,365	29,954	843	32,162
Disposals	-	(18,612 )	-	(18,612 )

As at 31 December 2024	2,730	96,917	7,447	107,094

Net Book Value
As at 31 December 2024	65,510	89,864	1,337	156,711

As at 1 January 2024	66,875	63,995	492	131,362

5. Stocks

	2024	2023
	£	£
Materials	5,400	5,400

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	344,956	187,074
Prepayments and accrued income	15,543	-
Amounts owed by other participating interests	401,273	191,749

	761,772	378,823

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MCE Electrical Contractors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	240,356	147,087
Bank loans and overdrafts	10,315	10,056
Corporation tax	64,884	3,073
Other taxes and social security	11,446	10,520
VAT	34,653	23,272
Net wages	5,885	-
Other creditors	5,571	7,196
Accruals and deferred income	5,014	2,750
Directors' loan accounts	11,990	11,990
Amounts owed to other participating interests	465	-

	390,579	215,944

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	7,904	18,214

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	22,800	16,122

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

11. Related Party Transactions

MC Builders Merchants Ltd

Under common control

As at the balance sheet date the amount owed to the related party was £144 (2023: amount owed by the related party was £3,018).

Metalcraft Projects UK Ltd

Under common control

As at the balance sheet date the amount owed by the related party was £13,176 (2023: £780).

Metalcraft Laser Ltd

Under common control

As at the balance sheet date the amount owed by the related party was £199 (2023: amount owed to the related party was £42).

Process Pump Solutions Ltd

Under common control

As at the balance sheet date the amount owed by the related party was £7,932 (2023: amount owed to the related party was £4,095).

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MCE Electrical Contractors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

M Craft Developments Ltd

Under common control

As at the balance sheet date the amount owed by the related party was £25,771 (2023: amount owed to the related party was £2,500).

Metalcraft Precision Engineering Ltd

Under common control

As at the balance sheet date the amount owed to the related party was £321 (2023: amount owed by the related party was £816).

Metalcraft Europe Ltd

Under common control

As at the balance sheet date the amount owed by the related party was £188,949 (2023: £108,236).

Varley Group (Bradford) Ltd

Under common control

As at the balance sheet date the amount owed by the related party was £165,246 (2023: £85,537).

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		156,711		131,362

			156,711		131,362
CURRENT ASSETS
Stocks	5	5,400		5,400
Debtors	6	761,772		378,823
Cash at bank and in hand		66,213		147,633

		833,385		531,856
Creditors: Amounts Falling Due Within One Year	7	(390,579 )		(215,944 )

NET CURRENT ASSETS (LIABILITIES)			442,806		315,912

TOTAL ASSETS LESS CURRENT LIABILITIES			599,517		447,274

Creditors: Amounts Falling Due After More Than One Year	8		(7,904 )		(18,214 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(22,800 )		(16,122 )

NET ASSETS			568,813		412,938

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			568,713		412,838

SHAREHOLDERS' FUNDS			568,813		412,938