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REGISTERED NUMBER: 02712445 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

M. D. ELECTRICAL COMPANY LIMITED

M. D. ELECTRICAL COMPANY LIMITED (REGISTERED NUMBER: 02712445)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M. D. ELECTRICAL COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: M J Diez
D Burns



REGISTERED OFFICE: Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP



REGISTERED NUMBER: 02712445 (England and Wales)



ACCOUNTANTS: Cook and Partners Limited
Chartered Accountants
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP



BANKERS: Barclays Bank Plc
12 Market Street
Hertford
Hertfordshire
EN8 9BW

M. D. ELECTRICAL COMPANY LIMITED (REGISTERED NUMBER: 02712445)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,674 98,890

CURRENT ASSETS
Stocks 141,858 108,721
Debtors 5 182,022 143,891
Cash at bank 178,148 213,085
502,028 465,697
CREDITORS
Amounts falling due within one year 6 152,716 144,754
NET CURRENT ASSETS 349,312 320,943
TOTAL ASSETS LESS CURRENT
LIABILITIES

434,986

419,833

CREDITORS
Amounts falling due after more than one
year

7

52,175

74,466
NET ASSETS 382,811 345,367

CAPITAL AND RESERVES
Called up share capital 1,100 2,219
Retained earnings 381,711 343,148
SHAREHOLDERS' FUNDS 382,811 345,367

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

M. D. ELECTRICAL COMPANY LIMITED (REGISTERED NUMBER: 02712445)

BALANCE SHEET - continued
31ST JULY 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th January 2024 and were signed on its behalf by:





M J Diez - Director


M. D. ELECTRICAL COMPANY LIMITED (REGISTERED NUMBER: 02712445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

M. D. Electrical Company 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.

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.
Plant and machinery etc - 25% on cost and 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

M. D. ELECTRICAL COMPANY LIMITED (REGISTERED NUMBER: 02712445)

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

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 315,199
Additions 24,239
At 31st July 2023 339,438
DEPRECIATION
At 1st August 2022 216,309
Charge for year 37,455
At 31st July 2023 253,764
NET BOOK VALUE
At 31st July 2023 85,674
At 31st July 2022 98,890

M. D. ELECTRICAL COMPANY LIMITED (REGISTERED NUMBER: 02712445)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st August 2022 158,425
Additions 23,249
At 31st July 2023 181,674
DEPRECIATION
At 1st August 2022 67,513
Charge for year 33,448
At 31st July 2023 100,961
NET BOOK VALUE
At 31st July 2023 80,713
At 31st July 2022 90,912

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 152,945 136,348
Other debtors 29,077 7,543
182,022 143,891

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 27,836 21,169
Trade creditors 36,324 26,348
Taxation and social security 58,276 74,158
Other creditors 20,280 13,079
152,716 144,754

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,167 29,167
Hire purchase contracts 33,008 45,299
52,175 74,466