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REGISTERED NUMBER: 10023327 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED

MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R T Moore
D R Saunders





REGISTERED OFFICE: 22 Sutherland Avenue
Bexhill-on-Sea
East Sussex
TN39 3QR





REGISTERED NUMBER: 10023327 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,000 8,000
Tangible assets 5 514,244 312,043
520,244 320,043

CURRENT ASSETS
Debtors 6 30,840 30,231
Cash at bank 19,937 11,731
50,777 41,962
CREDITORS
Amounts falling due within one year 7 (147,206 ) (231,291 )
NET CURRENT LIABILITIES (96,429 ) (189,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

423,815

130,714

CREDITORS
Amounts falling due after more than one
year

8

(347,581

)

(49,250

)

PROVISIONS FOR LIABILITIES (4,474 ) -
NET ASSETS 71,760 81,464

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 71,660 81,364
SHAREHOLDERS' FUNDS 71,760 81,464

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

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 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.

MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





D R Saunders - Director


MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Moore & Saunders Electrical Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on cost

Government grants
Grants are accounted under the accruals model as permitted by FRS 102.

Grants of a revenue nature are recognised in 'other income' within profit or loss in the same period as the related expenditure.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022 12,000
Amortisation for year 2,000
At 31 March 2023 14,000
NET BOOK VALUE
At 31 March 2023 6,000
At 31 March 2022 8,000

MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 288,310 218 42,618 331,146
Additions 202,385 649 6,000 209,034
At 31 March 2023 490,695 867 48,618 540,180
DEPRECIATION
At 1 April 2022 - 165 18,938 19,103
Charge for year - 54 6,779 6,833
At 31 March 2023 - 219 25,717 25,936
NET BOOK VALUE
At 31 March 2023 490,695 648 22,901 514,244
At 31 March 2022 288,310 53 23,680 312,043

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 29,168
DEPRECIATION
At 1 April 2022 9,115
Charge for year 4,497
At 31 March 2023 13,612
NET BOOK VALUE
At 31 March 2023 15,556
At 31 March 2022 20,053

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,882 29,934
Other debtors 958 297
30,840 30,231

MOORE & SAUNDERS ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 10023327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,215 9,707
Trade creditors 1,982 1,889
Amounts owed to associates 100,604 165,586
Taxation and social security 15,998 35,799
Other creditors 18,407 18,310
147,206 231,291

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 334,603 32,387
Other creditors 12,978 16,863
347,581 49,250

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100

10. RELATED PARTY DISCLOSURES

At the year end £100,604 (2022: £165,586) was owed to Dale Saunders (Holdings) Limited, a company owned by the Director, Dale Saunders. The loan is interest free and repayable on demand.

11. GOVERNMENT GRANTS

Grants received in the period consist of the following:
2023 2022
£ £
Bounceback Loan Interest Grant - 104
- 104

The above grants have been brought in on an accruals basis and disclosed as other income. The interest grant on the bounceback loan is for a 12 month period from the date the loan was received; May 20. The interest has been charged on the bounceback loan of £50,000 at 2.5%.