M.E.C. Holdings (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

M.E.C. Holdings (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

M.E.C. HOLDINGS (SCOTLAND) LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v19.3.0.619 SC473018 director 1.4.18 31.3.19 31.3.19 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC4730182018-03-31SC4730182019-03-31SC4730182018-04-012019-03-31SC4730182017-03-31SC4730182017-04-012018-03-31SC4730182018-03-31SC473018ns15:Scotland2018-04-012019-03-31SC473018ns14:PoundSterling2018-04-012019-03-31SC473018ns10:Director12018-04-012019-03-31SC473018ns10:PrivateLimitedCompanyLtd2018-04-012019-03-31SC473018ns10:SmallEntities2018-04-012019-03-31SC473018ns10:AuditExempt-NoAccountantsReport2018-04-012019-03-31SC473018ns10:SmallCompaniesRegimeForDirectorsReport2018-04-012019-03-31SC473018ns10:SmallCompaniesRegimeForAccounts2018-04-012019-03-31SC473018ns10:FullAccounts2018-04-012019-03-31SC473018ns10:RegisteredOffice2018-04-012019-03-31SC473018ns5:CurrentFinancialInstruments2019-03-31SC473018ns5:CurrentFinancialInstruments2018-03-31SC473018ns5:Non-currentFinancialInstruments2019-03-31SC473018ns5:Non-currentFinancialInstruments2018-03-31SC473018ns5:ShareCapital2019-03-31SC473018ns5:ShareCapital2018-03-31SC473018ns5:RetainedEarningsAccumulatedLosses2019-03-31SC473018ns5:RetainedEarningsAccumulatedLosses2018-03-31SC473018ns5:CostValuation2018-03-31SC473018ns5:UnlistedNon-exchangeTradedns5:CostValuation2019-03-31SC473018ns5:UnlistedNon-exchangeTraded2019-03-31SC473018ns5:UnlistedNon-exchangeTraded2018-03-31SC473018ns5:CurrentFinancialInstrumentsns5:WithinOneYear2019-03-31SC473018ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-31SC473018ns5:Secured2019-03-31SC473018ns5:Secured2018-03-31SC473018ns10:Director112018-03-31SC473018ns10:Director112017-03-31SC473018ns10:Director112018-04-012019-03-31SC473018ns10:Director112017-04-012018-03-31SC473018ns10:Director112019-03-31SC473018ns10:Director112018-03-31


REGISTERED NUMBER: SC473018 (Scotland)


















Unaudited Financial Statements

for the Year Ended 31 March 2019

for

M.E.C. Holdings (Scotland) Limited
M.E.C. Holdings (Scotland) Limited (Registered number: SC473018)






Contents of the Financial Statements
for the Year Ended 31 March 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M.E.C. Holdings (Scotland) Limited

Company Information
for the Year Ended 31 March 2019







DIRECTOR: M Carolan





REGISTERED OFFICE: Chapelshade House
78-84 Bell Street
Dundee
DD1 1HN





REGISTERED NUMBER: SC473018 (Scotland)





ACCOUNTANT: MMG Archbold Ltd
Chartered Accountants
Chapelshade House
78-84 Bell Street
Dundee
DD1 1RQ
Page 1
M.E.C. Holdings (Scotland) Limited (Registered number: SC473018)

Balance Sheet
31 March 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,536,724 1,482,655
Investment property 5 548,671 548,671
2,085,395 2,031,326

CURRENT ASSETS
Debtors 6 297,872 91,044
Cash at bank 168,097 226,041
465,969 317,085
CREDITORS
Amounts falling due within one year 7 190,124 153,976
NET CURRENT ASSETS 275,845 163,109
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,361,240
2,194,435

CREDITORS
Amounts falling due after more than one
year
8
248,456
290,207
NET ASSETS 2,112,784 1,904,228

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,112,780 1,904,224
SHAREHOLDERS' FUNDS 2,112,784 1,904,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2
M.E.C. Holdings (Scotland) Limited (Registered number: SC473018)

Balance Sheet - continued
31 March 2019


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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 November 2019 and were signed by:





M Carolan - Director


The notes form part of these financial statements

Page 3
M.E.C. Holdings (Scotland) Limited (Registered number: SC473018)

Notes to the Financial Statements
for the Year Ended 31 March 2019

1. STATUTORY INFORMATION

M.E.C. Holdings (Scotland) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4. FIXED ASSET INVESTMENTS

2019 2018
£    £   
Shares in group undertakings 2 2
Participating interests 50,000 50,000
Other investments not loans 1,486,722 1,432,653
1,536,724 1,482,655

Page 4
M.E.C. Holdings (Scotland) Limited (Registered number: SC473018)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 1 April 2018
and 31 March 2019 2 50,000 50,002
NET BOOK VALUE
At 31 March 2019 2 50,000 50,002
At 31 March 2018 2 50,000 50,002

Investments (neither listed nor unlisted) were as follows:
2019 2018
£    £   
Partnership Capital Account 1,486,722 1,432,653

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2018
and 31 March 2019 548,671
NET BOOK VALUE
At 31 March 2019 548,671
At 31 March 2018 548,671

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 4,277 4,277
Other debtors 293,595 86,767
297,872 91,044

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 42,412 42,412
Trade creditors - 942
Amounts owed to participating interests 37,584 37,584
Taxation and social security 109,697 70,386
Other creditors 431 2,652
190,124 153,976

Page 5
M.E.C. Holdings (Scotland) Limited (Registered number: SC473018)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Bank loans 175,781 207,516
Amounts owed to group undertakings 72,675 82,691
248,456 290,207

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,133 37,868

9. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Bank loans 218,193 249,928

The bank loan is secured by standard securities over certain investment properties and by a bond and floating
charge over the other assets of the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and
31 March 2018:

2019 2018
£    £   
M Carolan
Balance outstanding at start of year - -
Amounts advanced 224,358 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 224,358 -

Page 6