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Martin Hillen Electrics Ltd
Registered Number:NI629751
For the year ended 31 March 2023
Northern Ireland
Unaudited Financial Statements
2
For the year ended 31 March 2023
Martin Hillen Electrics Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
NI629751
As at 31 March 2023
Martin Hillen Electrics Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
7,580
9,474
3
7,580
9,474
Current assets
Inventories
101,260
30,945
4
Trade and other receivables
-
8,471
5
59,229
Cash and cash equivalents
119,298
158,714
160,489
Trade and other payables: amounts falling due within one
year
(105,522)
(116,822)
6
54,967
41,892
Net current assets
Total assets less current liabilities
49,472
64,441
Trade and other payables: amounts falling due after more
than one year
(37,500)
(28,265)
7
21,207
Net assets
26,941
Capital and reserves
Called up share capital
2
2
Retained earnings
21,205
26,939
21,207
26,941
Shareholders' funds
For the year ended 31 March 2023 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Martin Hillen Director
These financial statements were approved and authorised for issue by the Board on 16 October 2023 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 March 2023
Martin Hillen Electrics Ltd
Notes to the Financial Statements
Statutory Information
Martin Hillen Electrics Ltd is a private limited company, limited by shares, domiciled in Northern Ireland, registration
number NI629751.
Registered address:
20 Tullyorior Road
Banbridge
Co Down
BT32 5JP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 5 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
20% Reducing balance
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2022
11,000
At 31 March 2023
11,000
Amortisation
At 01 April 2022
11,000
At 31 March 2023
11,000
Net book value
At 31 March 2023
-
At 31 March 2022
-
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5
For the year ended 31 March 2023
Martin Hillen Electrics Ltd
Notes to the Financial Statements Continued
3. Property, plant and equipment
Plant and
Machinery
£
Cost or
valuation
At 01 April 2022
35,886
At 31 March 2023
35,886
Provision for depreciation and impairment
At 01 April 2022
26,412
Charge for year
1,894
At 31 March 2023
28,306
At 31 March 2023
Net book value
7,580
At 31 March 2022
9,474
4. Inventories
2022
2023
£
£
Stocks
30,945
101,260
Stock of Raw Materials and Work in Progress
5. Trade and other receivables
2022
2023
£
£
Trade debtors
8,471
-
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
21,954
10,074
Taxation and social security
10,565
5,898
Other creditors
84,303
89,550
116,822
105,522
3 of 4
6
For the year ended 31 March 2023
Martin Hillen Electrics Ltd
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
28,265
37,500
8. Average number of persons employed
During the year the average number of employees was 4 (2022 : 4)
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