MF MacBean Mobile Welding Services Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC366031

MF MacBean Mobile Welding Services Ltd

Filleted Unaudited Financial Statements

31 March 2025

MF MacBean Mobile Welding Services Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	375	375
Tangible assets	6	624,314	502,743
		---------	---------
		624,689	503,118

Current assets

Stocks		8,417	7,909
Debtors	7	150,814	193,885
Cash at bank and in hand		34,687	65,443
		---------	---------
		193,918	267,237

Creditors: amounts falling due within one year	8	( 91,601)	( 153,722)
		---------	---------
Net current assets		102,317	113,515
		---------	---------
Total assets less current liabilities		727,006	616,633

Creditors: amounts falling due after more than one year	9	( 26,700)	–

Provisions

Taxation including deferred tax	( 116,805)	( 121,156)
	---------	---------
Net assets	583,501	495,477
	---------	---------

Capital and reserves

Called up share capital	2	2
Share premium account	36,026	36,026
Profit and loss account	547,473	459,449
	---------	---------
Shareholders funds	583,501	495,477
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MF MacBean Mobile Welding Services Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 19 December 2025 , and are signed on behalf of the board by:

Mrs S A MacBean
Director

Company registration number: SC366031

MF MacBean Mobile Welding Services Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Forbes House, 36 Huntly Street, Inverness, IV3 5PR, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tenants improvements	-	12.5% straight line
Plant and machinery	-	25% on reducing balance /20% on straight line
Motor vehicles	-	25% reducing balance
Computer equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The following assets and liabilities are classified as financial instruments - bank, trade debtors, trade creditors, and directors' loans to the company. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 6 ).

5. Intangible assets

	Intangible asset
	£
Cost
At 1 April 2024 and 31 March 2025	375
	----
Amortisation
At 1 April 2024 and 31 March 2025	–
	----
Carrying amount
At 31 March 2025	375
	----
At 31 March 2024	375
	----

6. Tangible assets

	Tenant's improvements	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	22,264	604,102	157,093	2,681	786,140
Additions	–	286,087	–	675	286,762
Disposals	( 5,000)	( 142,697)	–	( 416)	( 148,113)
	--------	---------	---------	-------	---------
At 31 March 2025	17,264	747,492	157,093	2,940	924,789
	--------	---------	---------	-------	---------
Depreciation
At 1 April 2024	10,440	246,385	24,847	1,725	283,397
Charge for the year	4,497	23,510	10,689	330	39,026
Disposals	( 1,304)	( 20,540)	–	( 104)	( 21,948)
	--------	---------	---------	-------	---------
At 31 March 2025	13,633	249,355	35,536	1,951	300,475
	--------	---------	---------	-------	---------
Carrying amount
At 31 March 2025	3,631	498,137	121,557	989	624,314
	--------	---------	---------	-------	---------
At 31 March 2024	11,824	357,717	132,246	956	502,743
	--------	---------	---------	-------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 March 2025	162,674
	---------
At 31 March 2024	–
	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	143,765	185,226
Other debtors	7,049	8,659
	---------	---------
	150,814	193,885
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	33,569	77,712
Corporation tax	8,419	26,046
Social security and other taxes	16,626	43,431
Other creditors - wages	11	–
Other creditors	32,976	6,533
	--------	---------
	91,601	153,722
	--------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	26,700	–
	--------	----

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	3,585	4,196
Later than 1 year and not later than 5 years	–	3,147
	-------	-------
	3,585	7,343
	-------	-------

The operating lease payments recognised as an expense amounted to £5,083 (2024 - £4,196).

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr M F MacBean	( 28)	( 59)	( 87)
Mrs S A MacBean	( 28)	( 59)	( 87)
	----	----	----
	( 56)	( 118)	( 174)
	----	----	----

	2024
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr M F MacBean	( 28)	–	( 28)
Mrs S A MacBean	( 28)	–	( 28)
	----	----	----
	( 56)	–	( 56)
	----	----	----

12. Related party transactions

At 31 March 2025 the company was due 2 (2024 - due 2) directors £ 174 (2024 - £56). This loan is interest free and has no definite terms of repayment.