M.E.G Hydro Co Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC479453 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

M.E.G Hydro Co Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

N J McGeoch

I W McGeoch

Mrs A L McGeoch

REGISTERED OFFICE:

Lochlea Farm

Craigie

Kilmarnock

Ayrshire

KA1 5NN

REGISTERED NUMBER:

SC479453 (Scotland)

ACCOUNTANTS:

Douglas Home & Co Ltd

Chartered Accountants

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Investments

4

1,179,509

1,179,509

CURRENT ASSETS

Debtors

5

91

91

Cash at bank

21,036

23,333

21,127

23,424

CREDITORS

Amounts falling due within one year

6

208,952

205,304

NET CURRENT LIABILITIES

(187,825

)

(181,880

)

TOTAL ASSETS LESS CURRENT LIABILITIES

991,684

997,629

CAPITAL AND RESERVES

Called up share capital

1,191,413

1,191,413

Retained earnings

(199,729

)

(193,784

)

SHAREHOLDERS' FUNDS

991,684

997,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 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 Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:

N J McGeoch - Director

1.	STATUTORY INFORMATION

M.E.G Hydro Co 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

4.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 July 2022

and 30 June 2023

1,179,509

NET BOOK VALUE

At 30 June 2023

1,179,509

At 30 June 2022

1,179,509

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/23

30/6/22

£

£

VAT

90

90

Called up share capital not paid

1

1

91

91

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/23

30/6/22

£

£

Amounts owed to joint ventures

196,706

191,161

Tax

11,460

13,393

Accrued expenses

786

750

208,952

205,304