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Registered number: 03867402
MES PRECISION ENGINEERING LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2024
TREVOR HALL ASSOCIATES LIMITED
30 Hamilton Road
Ashton-In-Makerfield
Wigan
WN4 0SU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03867402
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 398,611 262,648
398,611 262,648
CURRENT ASSETS
Debtors 5 136,199 75,003
Cash at bank and in hand 109,785 118,209
245,984 193,212
Creditors: Amounts Falling Due Within One Year 6 (111,913 ) (56,950 )
NET CURRENT ASSETS (LIABILITIES) 134,071 136,262
TOTAL ASSETS LESS CURRENT LIABILITIES 532,682 398,910
Creditors: Amounts Falling Due After More Than One Year 7 (278,055 ) (168,603 )
NET ASSETS 254,627 230,307
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 254,527 230,207
SHAREHOLDERS' FUNDS 254,627 230,307
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr JOHN CAHILL
Director
26/08/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
MES PRECISION ENGINEERING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03867402 . The registered office is 11 Kingfisher Court, South Lancashire Industrial Est, Ashton In Makerfield Wigan, Lancashire, WN4 9DW.
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%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 15%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 7 7
8 8
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 150,000 487,853 24,329 9,840
Additions - 174,968 - -
Disposals - (41,000 ) - -
As at 31 December 2024 150,000 621,821 24,329 9,840
Depreciation
As at 1 January 2024 58,078 326,279 22,864 3,873
Provided during the period 1,838 34,158 366 895
Disposals - (39,268 ) - -
As at 31 December 2024 59,916 321,169 23,230 4,768
Net Book Value
As at 31 December 2024 90,084 300,652 1,099 5,072
As at 1 January 2024 91,922 161,574 1,465 5,967
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Computer Equipment Total
£ £
Cost
As at 1 January 2024 3,512 675,534
Additions 245 175,213
Disposals - (41,000 )
As at 31 December 2024 3,757 809,747
Depreciation
As at 1 January 2024 1,792 412,886
Provided during the period 261 37,518
Disposals - (39,268 )
As at 31 December 2024 2,053 411,136
Net Book Value
As at 31 December 2024 1,704 398,611
As at 1 January 2024 1,720 262,648
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 121,916 75,001
Other debtors 14,283 -
136,199 75,001
Due after more than one year
Trade debtors - 2
136,199 75,003
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 77,013 44,333
Corporation tax 5,447 -
Other taxes and social security 28,462 12,436
Other creditors 991 181
111,913 56,950
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 227,921 98,810
Bank loans 14,167 24,167
Other creditors 35,967 45,626
278,055 168,603
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 227,921 98,810
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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