REGISTERED NUMBER: 03863467 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

MJPATCH ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K H Patch

C J Patch

H George

SECRETARY:

C J Patch

REGISTERED OFFICE:

Sparfield

Regil Lane

Winford

Bristol

BS40 8AX

REGISTERED NUMBER:

03863467 (England and Wales)

ACCOUNTANTS:

Gravita

Chartered Accountants

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Intangible assets

4

56,317

-

Tangible assets

5

688,873

798,600

745,190

798,600

CURRENT ASSETS

Stocks

6

339,641

254,471

Debtors

7

1,741,359

1,858,708

Cash at bank and in hand

115,017

322,949

2,196,017

2,436,128

CREDITORS

Amounts falling due within one year

8

(1,117,730

)

(989,225

)

NET CURRENT ASSETS

1,078,287

1,446,903

TOTAL ASSETS LESS CURRENT LIABILITIES

1,823,477

2,245,503

CREDITORS

Amounts falling due after more than one year

9

-

(26,097

)

PROVISIONS FOR LIABILITIES

(101,474

)

(85,620

)

NET ASSETS

1,722,003

2,133,786

CAPITAL AND RESERVES

Called up share capital

11

105

105

Retained earnings

1,721,898

2,133,681

SHAREHOLDERS' FUNDS

1,722,003

2,133,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

C J Patch - Director

K H Patch - Director

1.	COMPANY INFORMATION

MJPatch Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of engineering and metal fabrication.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going Concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that as a whole, the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed relevant information and has considered possible measures that could be undertaken to mitigate the current adverse conditions. Based on this assessment and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the goods are physically delivered to the customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements -Straight line over 25 years

Plant and machinery -25% on reducing balance

Fixtures, fittings and equipment - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Stocks

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 items.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2024 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

70,397

At 31 March 2025

70,397

AMORTISATION

Charge for year

14,080

At 31 March 2025

14,080

NET BOOK VALUE

At 31 March 2025

56,317

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Leasehold

Plant and

and

Motor

improvements

machinery

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

365,362

982,000

259,797

415,289

2,022,448

Additions

-

31,780

13,654

-

45,434

Disposals

-

(4,300

)

-

-

(4,300

)

At 31 March 2025

365,362

1,009,480

273,451

415,289

2,063,582

DEPRECIATION

At 1 April 2024

109,337

666,852

198,403

249,256

1,223,848

Charge for year

14,615

81,534

17,427

41,585

155,161

Eliminated on disposal

-

(4,300

)

-

-

(4,300

)

At 31 March 2025

123,952

744,086

215,830

290,841

1,374,709

NET BOOK VALUE

At 31 March 2025

241,410

265,394

57,621

124,448

688,873

At 31 March 2024

256,025

315,148

61,394

166,033

798,600

Included in the total net book value of fixed assets was £20,758 (2024 - £27,677) in respect of assets

held under hire purchase contracts

6.

STOCKS

2025

2024

£

£

Work-in-progress

339,641

254,471

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

850,290

916,120

Amounts owed by related undertakings

212,823

212,823

Other debtors

276,034

409,926

Directors' current accounts

-

4,867

Corporation tax

86,517

66,267

VAT

49,487

69,299

Prepayments and accrued income

266,208

179,406

1,741,359

1,858,708

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 10)

13,623

22,799

Trade creditors

643,550

633,793

Amounts owed to related undertakings

22,570

9,746

Social security and other taxes

42,293

50,235

Other creditors

261,944

193,711

Directors' current accounts

30,983

15,276

Accruals and deferred income

102,767

63,665

1,117,730

989,225

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

26,097

Hire purchase contracts totalling £13,623 (2024 - £48,896) are secured on the assets to which they relate.

10.	LEASING AGREEMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £222,000 (2024: £258,000)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

4000

A Ordinary

£0.01

40

40

4000

B Ordinary

£0.01

40

40

1000

C Ordinary

£0.01

10

10

1000

D Ordinary

£0.01

10

10

420

E Ordinary

£0.01

4

4

108

F Ordinary

£0.01

1

1

105

105

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

H George

Balance outstanding at start of year

4,867

14,957

Amounts advanced

-

4,867

Amounts repaid

(5,332

)

(14,957

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(465

)

4,867

The directors' loan is interest free and has no set date for repayment.