Company Registration No. 11193059 (England and Wales)
MEDWAY ELECTRICAL LIMITED
Unaudited accounts
for the year ended 28 February 2023
MEDWAY ELECTRICAL LIMITED
Unaudited accounts
Contents
MEDWAY ELECTRICAL LIMITED
Company Information
for the year ended 28 February 2023
Company Number
11193059 (England and Wales)
Registered Office
UNIT 14 TECHNOLOGY CENTER
CASTLE ROAD
SITTINGBOURNE
ME10 3RG
ENGLAND
Accountants
Blue Sky Accountants Limited
Innovation Centre Medway
Maidstone Road
Chatham
Kent
ME5 9FD
MEDWAY ELECTRICAL LIMITED
Accountants' report
Accountants' report to the director of MEDWAY ELECTRICAL LIMITED on the preparation of the unaudited statutory accounts for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
MEDWAY ELECTRICAL LIMITED for the year ended
28 February 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of MEDWAY ELECTRICAL LIMITED, as a body, in accordance with the terms of our engagement letter dated 1 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of MEDWAY ELECTRICAL LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MEDWAY ELECTRICAL LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MEDWAY ELECTRICAL LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MEDWAY ELECTRICAL LIMITED. You consider that MEDWAY ELECTRICAL 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 accounts of MEDWAY ELECTRICAL 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 accounts.
Blue Sky Accountants Limited
Innovation Centre Medway
Maidstone Road
Chatham
Kent
ME5 9FD
15 November 2023
MEDWAY ELECTRICAL LIMITED
Statement of financial position
as at 28 February 2023
Cash at bank and in hand
743,718
-
Creditors: amounts falling due within one year
42,080
-
Net current assets
1,241,419
-
Called up share capital
100
-
Profit and loss account
1,587,797
-
Shareholders' funds
1,587,897
-
For the year ending 28 February 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 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.
The financial statements were approved by the Board and authorised for issue on 15 November 2023 and were signed on its behalf by
Scott Wood
Director
Company Registration No. 11193059
MEDWAY ELECTRICAL LIMITED
Notes to the Accounts
for the year ended 28 February 2023
MEDWAY ELECTRICAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11193059. The registered office is UNIT 14 TECHNOLOGY CENTER, CASTLE ROAD, SITTINGBOURNE, ME10 3RG, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Plant & machinery
25% Straight Line
Motor vehicles
25% Reducing Balance
Computer equipment
25% Straight Line
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
Additions
201,940
56,387
126,990
9,754
395,071
At 28 February 2023
201,940
56,387
126,990
9,754
395,071
Charge for the year
-
14,098
31,665
2,830
48,593
At 28 February 2023
-
14,098
31,665
2,830
48,593
At 28 February 2023
201,940
42,289
95,325
6,924
346,478
Amounts falling due within one year
MEDWAY ELECTRICAL LIMITED
Notes to the Accounts
for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,265
-
Taxes and social security
(10,343)
-
Loans from directors
(137,906)
-
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).