M2 Technical Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC130107 (Scotland)

Abridged Unaudited Financial Statements for the Year Ended 28 February 2019

for

M2 Technical Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K N McLay

T Irving

SECRETARY:

Ms A Middleton

REGISTERED OFFICE:

18 Glebe Street

GLASGOW

G4 0EU

REGISTERED NUMBER:

SC130107 (Scotland)

ACCOUNTANTS:

RAEBURN ALLISON & CO

CHARTERED ACCOUNTANTS

13/15 STRATHMORE HOUSE

TOWN CENTRE

EAST KILBRIDE

GLASGOW

G74 1LF

FIXED ASSETS

Tangible assets

4

90,528

95,790

CURRENT ASSETS

Stocks

10,897

7,393

Debtors

36,529

33,317

Cash at bank and in hand

15,011

12,832

62,437

53,542

CREDITORS

Amounts falling due within one year

55,192

45,743

NET CURRENT ASSETS

7,245

7,799

TOTAL ASSETS LESS CURRENT LIABILITIES

97,773

103,589

CREDITORS

Amounts falling due after more than one year

185

5,027

NET ASSETS

97,588

98,562

CAPITAL AND RESERVES

Called up share capital

5

27,180

27,180

Revaluation reserve

6

55,532

55,532

Retained earnings

6

14,876

15,850

SHAREHOLDERS' FUNDS

97,588

98,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 November 2019 and were signed on its behalf by:

K N McLay - Director

1.	STATUTORY INFORMATION

M2 Technical Services Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its

contractual obligations to customers by supplying goods and services, and excludes value added tax. Revenue

from software support contracts is recognised over the period in which services are provided.

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 3 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 March 2018

and 28 February 2019

164,848

DEPRECIATION

At 1 March 2018

69,058

Charge for year

5,262

At 28 February 2019

74,320

NET BOOK VALUE

At 28 February 2019

90,528

At 28 February 2018

95,790

Cost or valuation at 28 February 2019 is represented by:

Totals

£

Valuation in 2002

55,532

Cost

109,316

164,848

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

28.2.19

28.2.18

£

£

Cost

69,468

69,468

Aggregate depreciation

25,006

23,617

Freehold land and buildings were valued on an open market basis on 28 February 2002 by Griffin Webster Partnership

.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 March 2018

and 28 February 2019

18,599

DEPRECIATION

At 1 March 2018

10,916

Charge for year

1,921

At 28 February 2019

12,837

NET BOOK VALUE

At 28 February 2019

5,762

At 28 February 2018

7,683

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.19

28.2.18

value:

£

£

27,180

ORDINARY

£1

27,180

27,180

6.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 March 2018

15,850

55,532

71,382

Deficit for the year

(974

)

(974

)

At 28 February 2019

14,876

55,532

70,408

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2019 and

28 February 2018:

28.2.19

28.2.18

£

£

K N McLay and T Irving

Balance outstanding at start of year

2,413

2,413

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,413

2,413

There were no movements on the director's current accounts during the year, and at the balance sheet date, the

balances due to the company by Mr McLay and Mr Irving were £1206 and £1207 respectively. These amounts

are shown in Other Debtors.

8.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr K N McLay.