ACCOUNTS - Final Accounts preparation

MID-TECH ENGINEERING PROJECTS LTD - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2016-06-302016-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalsePlumbing, heat and air-conditioning installationfalse2015-07-13 09684053 2015-07-12 09684053 2015-07-13 2016-06-30 09684053 2016-06-30 09684053 c:Director1 2015-07-13 2016-06-30 09684053 c:Director2 2015-07-13 2016-06-30 09684053 c:Director3 2015-07-13 2016-06-30 09684053 c:Director4 2015-07-13 2016-06-30 09684053 c:RegisteredOffice 2015-07-13 2016-06-30 09684053 d:CurrentFinancialInstruments 2016-06-30 09684053 d:CurrentFinancialInstruments d:WithinOneYear 2016-06-30 09684053 d:ShareCapital 2016-06-30 09684053 d:RetainedEarningsAccumulatedLosses 2016-06-30 09684053 c:FRS102 2015-07-13 2016-06-30 09684053 c:AuditExempt-NoAccountantsReport 2015-07-13 2016-06-30 09684053 c:FullAccounts 2015-07-13 2016-06-30 09684053 c:PrivateLimitedCompanyLtd 2015-07-13 2016-06-30 iso4217:GBP

Company registration number 09684053

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 30 JUNE 2016

	MID-TECH ENGINEERING PROJECTS LIMITED


MID-TECH ENGINEERING PROJECTS LIMITED

COMPANY INFORMATION

Directors	Mr M I Dewey
	Mr T S Davison
	Mr D J Parfitt
	Mr D M Griffin


Registered number	09684053


Registered office	Centrum House
	39 Station Road
	Egham
	Surrey
	TW20 9LF


Accountants	Menzies LLP
	Chartered Accountants
	Centrum House
	36 Station Road
	Egham
	Surrey
	TW20 9LF


MID-TECH ENGINEERING PROJECTS LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


MID-TECH ENGINEERING PROJECTS LIMITED REGISTERED NUMBER:09684053

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2016

		2016
Note		£


Current assets
Debtors: amounts falling due within one year	4	133,331
Cash at bank and in hand		12,691
		146,022
Creditors: amounts falling due within one year	5	(186,632)
Net current (liabilities)/assets			(40,610)
Total assets less current liabilities			(40,610)

Net (liabilities)/assets			(40,610)

Capital and reserves
Called up share capital			200
Profit and loss account			(40,810)
			(40,610)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr M I Dewey	Mr T S Davison
Director	Director

Page 1


MID-TECH ENGINEERING PROJECTS LIMITED REGISTERED NUMBER:09684053

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JUNE 2016

Mr D J Parfitt Director

Date: 31 March 2017

The notes on pages 3 to 5 form part of these financial statements.

Page 2


MID-TECH ENGINEERING PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2016

1.	General information

Mid-Tech Engineering Projects Limited is a private company limited by shares, incorporated in England and Wales
The principal place of business is Unit 16 Radway Road, Shirley, Solihull, B90 4NR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

At the balance sheet date the company had net liabilities of £40,610 and negative reserves of £40,810, as a result of expenditure incured before trading. The directors have a reasonable expectation that the company has sufficient reserves to ensure that the company meets all liabilities as and when they fall due, and has adequate resources to continue operational existence for the foreseeable future. For this reason the accounts have been prepared on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

·the Company has transferred the significant risks and rewards of ownership to the buyer;

·the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the transaction; and

·the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


MID-TECH ENGINEERING PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2016

2.Accounting policies (continued)

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Employees

The average monthly number of employees, including directors, during the period was 2.

Debtors

					2016
					£


	Trade debtors	130,868
	Prepayments and accrued income	2,463
		133,331

Page 4


MID-TECH ENGINEERING PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2016

5.	Creditors: Amounts falling due within one year
		2016
		£

	Trade creditors	18,183
	Amounts owed to group undertakings	135,175
	Other taxation and social security	31,274
	Accruals and deferred income	2,000
		186,632

Page 5