M.E.C. Holdings (Scotland) Limited - Accounts to registrar (filleted) - small 17.3

M.E.C. Holdings (Scotland) Limited - Accounts to registrar (filleted) - small 17.3

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

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REGISTERED NUMBER: SC473018 (Scotland)


















Unaudited Financial Statements

for the Year Ended 31 March 2017

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 2017




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 2017







DIRECTOR: M Carolan





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





REGISTERED NUMBER: SC473018 (Scotland)





ACCOUNTANTS: MMG Archbold
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 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,408,637 1,335,447
Investment property 5 548,671 548,671
1,957,308 1,884,118

CURRENT ASSETS
Debtors 6 374,717 377,490
Cash at bank 13,640 21,066
388,357 398,556
CREDITORS
Amounts falling due within one year 7 327,710 429,047
NET CURRENT ASSETS/(LIABILITIES) 60,647 (30,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,017,955
1,853,627

CREDITORS
Amounts falling due after more than one
year
8
334,653
371,020
NET ASSETS 1,683,302 1,482,607

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 1,683,298 1,482,603
SHAREHOLDERS' FUNDS 1,683,302 1,482,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 2017


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.

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 21 December 2017 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 2017

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 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.

Preparation of consolidated financial statements
The financial statements contain information about M.E.C. Holdings (Scotland) Limited as an individual
company and do not contain consolidated financial information as the parent of a group. The company has
taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial
statements.

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 .

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

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

4. FIXED ASSET INVESTMENTS

2017 2016
£    £   
Shares in group undertakings 2 2
Participating interests 50,000 50,000
Other investments not loans 1,358,635 1,285,445
1,408,637 1,335,447

Additional information is as follows:
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 1 April 2016
and 31 March 2017 2 50,000 50,002
NET BOOK VALUE
At 31 March 2017 2 50,000 50,002
At 31 March 2016 2 50,000 50,002

Investments (neither listed nor unlisted) were as follows:
2017 2016
£    £   
Partnership Capital Account 1,358,635 1,285,445

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2016
and 31 March 2017 548,671
NET BOOK VALUE
At 31 March 2017 548,671
At 31 March 2016 548,671

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 4,277 6,777
Amounts owed by participating interests 351,124 351,124
Other debtors 19,316 19,589
374,717 377,490

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

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 42,412 42,412
Trade creditors 687 8,622
Taxation and social security 96,123 35,528
Other creditors 188,488 342,485
327,710 429,047

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 238,607 268,296
Amounts owed to group undertakings 96,046 102,724
334,653 371,020

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 68,959 98,648

9. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 281,019 310,708

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.

Page 6