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Company Registration No. 07998119 (England and Wales)
M.L.B. Electrical Contractors Limited Unaudited accounts for the year ended 31 March 2018
M.L.B. Electrical Contractors Limited Unaudited accounts Contents
Page
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M.L.B. Electrical Contractors Limited Company Information for the year ended 31 March 2018
Director
Mark Bailey
Company Number
07998119 (England and Wales)
Registered Office
FIRST FLOOR AUDIT HOUSE 151 HIGH STREET BILLERICAY ESSEX CM12 9AB
Accountants
First Call Accounting Ltd 1st Floor Audit House 151 High Street Billericay Essex CM12 9AB
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M.L.B. Electrical Contractors Limited Statement of financial position as at 31 March 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,701 
10,584 
Current assets
Debtors
23,317 
14,397 
Cash at bank and in hand
(11,147)
(1,215)
12,170 
13,182 
Creditors: amounts falling due within one year
(18,998)
(18,504)
Net current liabilities
(6,828)
(5,322)
Total assets less current liabilities
1,873 
5,262 
Creditors: amounts falling due after more than one year
- 
(2,907)
Provisions for liabilities
Deferred tax
(1,653)
(2,117)
Net assets
220 
238 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
120 
138 
Shareholders' funds
220 
238 
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 8 November 2018.
Mark Bailey Director Company Registration No. 07998119
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M.L.B. Electrical Contractors Limited Notes to the Accounts for the year ended 31 March 2018
1
Statutory information
M.L.B. Electrical Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 07998119. The registered office is FIRST FLOOR AUDIT HOUSE, 151 HIGH STREET, BILLERICAY, ESSEX, CM12 9AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
Fixtures & fittings
25% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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M.L.B. Electrical Contractors Limited Notes to the Accounts for the year ended 31 March 2018
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2017
16,363 
2,366 
18,729 
Additions
- 
432 
432 
At 31 March 2018
16,363 
2,798 
19,161 
Depreciation
At 1 April 2017
5,891 
2,254 
8,145 
Charge for the year
2,095 
220 
2,315 
At 31 March 2018
7,986 
2,474 
10,460 
Net book value
At 31 March 2018
8,377 
324 
8,701 
At 31 March 2017
10,472 
112 
10,584 
5
Debtors
2018 
2017 
£ 
£ 
Trade debtors
13,285 
14,397 
Other debtors
10,032 
- 
23,317 
14,397 
6
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Obligations under finance leases and hire purchase contracts
3,160 
4,791 
Trade creditors
8,810 
1,165 
Taxes and social security
3,733 
10,795 
Other creditors
895 
553 
Accruals
2,400 
1,200 
18,998 
18,504 
7
Creditors: amounts falling due after more than one year
2018 
2017 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
2,907 
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M.L.B. Electrical Contractors Limited Notes to the Accounts for the year ended 31 March 2018
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mark Bailey
Mark Bailey Directors Loan
- 
27,831 
15,769 
12,062 
- 
27,831 
15,769 
12,062 
There is a balance owed to the company by the director of £12,062 in respect of excess drawings from the company in anticipation of higher profits from which to declare dividends. Interest has been charged at a rate of 3% on the average balance throughout the year.
9
Average number of employees
During the year the average number of employees was 2 (2017: 2).
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