Registration number: 03331740

McCoid Engineering Services Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

McCoid Engineering Services Limited

Company Information

Directors

C McCoid S V McCoid

Registered office

25 Westella Road Kirkella Hull East Yorkshire HU10 7QD

McCoid Engineering Services Limited

(Registration number: 03331740)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	77,106	101,735
Current assets
Debtors	5	135,194	143,494
Cash at bank and in hand		14,803	24,074
		149,997	167,568
Creditors: Amounts falling due within one year	6	(85,504)	(87,813)
Net current assets		64,493	79,755
Total assets less current liabilities		141,599	181,490
Creditors: Amounts falling due after more than one year	6	(42,068)	(71,474)
Provisions for liabilities		(17,793)	(21,757)
Net assets		81,738	88,259
Capital and reserves
Called up share capital		100	100
Retained earnings		81,638	88,159
Shareholders' funds		81,738	88,259

For the financial year ending 30 September 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 30 September 2025 and signed on its behalf by:
 

......................................... C McCoid Director

......................................... S V McCoid Director

McCoid Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03331740.

The address of its registered office is:
25 Westella Road
Kirkella
Hull
East Yorkshire
HU10 7QD

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of engineering services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

McCoid Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Motor vehicles	25% on written down value
Plant & Equipment	15% on written down value
Computer Equipment	20% on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the provision of engineering services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less provision for irrecoverable debts. A provision for the irrecoverable debts is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

McCoid Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2023 - 5).

McCoid Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2023	5,497	5,582	151,201	162,280
Additions	666	-	-	666
At 30 September 2024	6,163	5,582	151,201	162,946
Depreciation
At 1 October 2023	2,970	5,460	52,115	60,545
Charge for the year	506	18	24,771	25,295
At 30 September 2024	3,476	5,478	76,886	85,840
Carrying amount
At 30 September 2024	2,687	104	74,315	77,106
At 30 September 2023	2,527	122	99,086	101,735

5

Debtors

	2024 £	2023 £
Trade debtors	-	45,035
Other debtors	132,780	96,351
Prepayments	2,414	2,108
	135,194	143,494

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	29,405	27,870
Trade creditors		144	3,739
Taxation and social security		50,829	49,663
Accruals and deferred income		2,515	2,394
Other creditors		2,611	4,147
		85,504	87,813

McCoid Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	42,068	71,474

7	Loans and borrowings

	2024 £	2023 £
Current loans and borrowings
Bank loans	10,332	10,077
Obligations under finance lease and hire purchase agreements	19,073	17,793
	29,405	27,870

	2024 £	2023 £
Non-current loans and borrowings
Bank loans	7,033	17,365
Obligations under finance lease and hire purchase agreements	35,035	54,109
	42,068	71,474

The obligations under finance and hire purchase contracts liabilities are secured on the asset they relate to. The bank loan is not secured. Bank overdrafts are unsecured.

8	Related party transactions

Transactions with Directors

2024	At 1 October 2023 £	Advances to Director £	Repayments by Director £	At 30 September 2024 £
Unsecured, interest free loan, repayable on demand	78,943	158,872	(119,567)	118,248

Other transactions with Directors

At the year end, the directors owed the company £118,248 (2023: £78,943). This amount is unsecured, interest free and repayable on demand.