2022-04-012023-03-312023-03-31false05736791M T ELECTRICAL (ESSEX) 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M T ELECTRICAL (ESSEX) LIMITED

Registered Number
05736791
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

M T ELECTRICAL (ESSEX) LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

TINSLEY, Michael

Registered Address

Sunnyfields School Lane
Great Leighs
Chelmsford
CM3 1NL

Registered Number

05736791 (England and Wales)
M T ELECTRICAL (ESSEX) LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5109,107107,229
109,107107,229
Current assets
Stocks73,9593,451
Debtors8431,338317,126
Cash at bank and on hand398,971310,182
834,268630,759
Creditors amounts falling due within one year9(438,921)(301,679)
Net current assets (liabilities)395,347329,080
Total assets less current liabilities504,454436,309
Creditors amounts falling due after one year10(64,051)(79,844)
Provisions for liabilities12(27,277)(17,462)
Net assets413,126339,003
Capital and reserves
Called up share capital1010
Profit and loss account413,116338,993
Shareholders' funds413,126339,003
The financial statements were approved and authorised for issue by the Director on 2 October 2023, and are signed on its behalf by:
TINSLEY, Michael
Director
Registered Company No. 05736791
M T ELECTRICAL (ESSEX) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment-3
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1313
5.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 224,0424,603155,65611,48319,969195,753
Additions--29,881213-30,094
At 31 March 234,0424,603185,53711,69619,969225,847
Depreciation and impairment
At 01 April 224,0424,28453,9838,26917,94688,524
Charge for year-8026,62983966828,216
At 31 March 234,0424,36480,6129,10818,614116,740
Net book value
At 31 March 23-239104,9252,5881,355109,107
At 31 March 22-319101,6733,2142,023107,229
6.Directors advances, credits and guarantees
During the year the following advances and credits were made to and from directors. B/fwd £(62,274), Advances £52,883, Credits £(55,800), C/fwd £(65,191). No interest is charged on the loan.
7.Stocks

2023

2022

££
Other stocks3,9593,451
Total3,9593,451
8.Debtors

2023

2022

££
Trade debtors / trade receivables378,836286,519
Other debtors8,6791,825
Prepayments and accrued income43,82328,782
Total431,338317,126
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables210,443137,069
Bank borrowings and overdrafts9,9369,681
Taxation and social security45,05943,923
Finance lease and HP contracts5,8575,857
Other creditors68,15863,029
Accrued liabilities and deferred income99,46842,120
Total438,921301,679
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts23,28933,226
Other creditors40,76246,618
Total64,05179,844
11.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts40,76146,619
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)27,27717,462
Total27,27717,462