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Momentum Utility Services Limited

Financial Statements for the Year Ended 31 January 2023






Momentum Utility Services Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: D W Emery
W F Jeffrey
G H Roberts
R H D Wynne





REGISTERED OFFICE: The Coach House
Itton
Chepstow
NP16 6BP





REGISTERED NUMBER: 11146104 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Momentum Utility Services Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Momentum Utility Services Limited for the year ended 31 January 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Momentum Utility Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Momentum Utility Services Limited and state those matters that we have agreed to state to the Board of Directors of Momentum Utility Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Momentum Utility Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Momentum Utility Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Momentum Utility Services Limited. You consider that Momentum Utility Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Momentum Utility Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


25 October 2023

Momentum Utility Services Limited (Registered number: 11146104)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 12,301 25,990

CURRENT ASSETS
Stocks 67,039 41,443
Debtors 4 649,260 323,625
Cash at bank 127,357 114,464
843,656 479,532
CREDITORS
Amounts falling due within one
year

5

624,760

307,867
NET CURRENT ASSETS 218,896 171,665
TOTAL ASSETS LESS
CURRENT LIABILITIES

231,197

197,655

CREDITORS
Amounts falling due after more
than one year

6

(104,602

)

(146,935

)

PROVISIONS FOR LIABILITIES (3,000 ) (5,500 )
NET ASSETS 123,595 45,220

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 122,595 44,220
123,595 45,220

Momentum Utility Services Limited (Registered number: 11146104)

Balance Sheet - continued
31 January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





R H D Wynne - Director


Momentum Utility Services Limited (Registered number: 11146104)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% straight line
Computer equipment - 33% - 50% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2022 - 33 ) .

Momentum Utility Services Limited (Registered number: 11146104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2022 36,271 7,253 43,524
Additions 40 - 40
At 31 January 2023 36,311 7,253 43,564
DEPRECIATION
At 1 February 2022 11,906 5,628 17,534
Charge for year 12,104 1,625 13,729
At 31 January 2023 24,010 7,253 31,263
NET BOOK VALUE
At 31 January 2023 12,301 - 12,301
At 31 January 2022 24,365 1,625 25,990

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 633,760 300,125
Other debtors & prepayments 15,500 23,500
649,260 323,625

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Bank loan 42,266 40,142
Trade creditors 172,096 140,961
Taxes & social security costs 284,268 101,016
Other creditors & accruals 126,130 25,748
624,760 307,867

The bank loan is secured.

Momentum Utility Services Limited (Registered number: 11146104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 104,602 146,935

The bank loan is secured.