Company registration number 11317856 (England and Wales)
SURREY M&E LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
SURREY M&E LIMITED
COMPANY INFORMATION
Director
A Lockwood
Company number
11317856
Registered office
The Orangery
The Square
Carshalton
Surrey
SM5 3BN
Accountants
Bryden Johnson Digital Limited
1-4 Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Business address
The Orangery
The Square
Carshalton
Surrey
SM5 3BN
SURREY M&E LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 9
SURREY M&E LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

The director presents his annual report and financial statements for the year ended 30 April 2023.

Principal activities

The principal activity of the company continued to be that of plumbing, heat and air-conditioning installation.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

A Lockwood
Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A Lockwood
Director
14 November 2023
SURREY M&E LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SURREY M&E LIMITED FOR THE YEAR ENDED 30 APRIL 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Surrey M&E Limited for the year ended 30 April 2023 which comprise the profit and loss account, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Surrey M&E Limited, as a body, in accordance with the terms of our engagement letter dated 30 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Surrey M&E Limited and state those matters that we have agreed to state to the board of directors of Surrey M&E Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Surrey M&E Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Surrey M&E 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 Surrey M&E Limited. You consider that Surrey M&E 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 Surrey M&E 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.

Bryden Johnson Digital Limited
18 January 2024
Chartered Accountants
1-4 Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
SURREY M&E LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
2023
2022
£
£
Turnover
7,877,818
5,636,011
Cost of sales
(7,273,358)
(4,739,622)
Gross profit
604,460
896,389
Administrative expenses
(661,436)
(601,379)
Other operating income
4,500
37,722
Operating (loss)/profit
(52,476)
332,732
Interest receivable and similar income
37
7
Interest payable and similar expenses
(5,344)
(1,499)
(Loss)/profit before taxation
(57,783)
331,240
Tax on (loss)/profit
161,091
(42,404)
Profit for the financial year
103,308
288,836

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SURREY M&E LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
151,647
200,826
Current assets
Debtors
4
2,906,332
1,643,180
Cash at bank and in hand
53,570
116,656
2,959,902
1,759,836
Creditors: amounts falling due within one year
5
(2,529,818)
(1,337,531)
Net current assets
430,084
422,305
Total assets less current liabilities
581,731
623,131
Creditors: amounts falling due after more than one year
6
(134,982)
(186,375)
Net assets
446,749
436,756
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
446,649
436,656
Total equity
446,749
436,756

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 14 November 2023
A Lockwood
Director
Company registration number 11317856 (England and Wales)
SURREY M&E LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
1
Accounting policies
Company information

Surrey M&E Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Orangery, The Square, Carshalton, Surrey, SM5 3BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

 

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progress. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

SURREY M&E LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

SURREY M&E LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 7 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
19
18
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022
262,241
Additions
881
At 30 April 2023
263,122
Depreciation and impairment
At 1 May 2022
61,415
Depreciation charged in the year
50,060
At 30 April 2023
111,475
Carrying amount
At 30 April 2023
151,647
At 30 April 2022
200,826
SURREY M&E LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 8 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
777,590
504,314
Amounts recoverable on long term contracts
1,376,449
884,520
Corporation tax recoverable
101,176
-
0
Other debtors
454,611
250,118
Prepayments and accrued income
196,506
4,228
2,906,332
1,643,180
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases
41,745
45,123
Trade creditors
2,127,348
924,351
Corporation tax
-
0
59,915
Other taxation and social security
213,307
202,676
Other creditors
65,625
26,293
Accruals and deferred income
71,793
69,173
2,529,818
1,337,531
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
20,234
30,912
Obligations under finance leases
114,748
155,463
134,982
186,375
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
6,500
6,500
65
65
Ordinary A shares of 1p each
3,000
3,000
30
30
Ordinary B shares of 1p each
500
500
5
5
10,000
10,000
100
100

 

SURREY M&E LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 9 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
30,015
50,668
9
Directors' transactions

At the year end, included in other debtors is an amount of £NIL (2022 : £5,815) due from the director of the company.

2023-04-302022-05-01falseCCH SoftwareCCH Accounts Production 2023.300A Lockwoodfalse113178562022-05-012023-04-3011317856bus:Director12022-05-012023-04-3011317856bus:RegisteredOffice2022-05-012023-04-30113178562023-04-30113178562021-05-012022-04-30113178562022-04-3011317856core:OtherPropertyPlantEquipment2023-04-3011317856core:OtherPropertyPlantEquipment2022-04-3011317856core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3011317856core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3011317856core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3011317856core:Non-currentFinancialInstrumentscore:AfterOneYear2022-04-3011317856core:CurrentFinancialInstruments2023-04-3011317856core:CurrentFinancialInstruments2022-04-3011317856core:Non-currentFinancialInstruments2023-04-3011317856core:Non-currentFinancialInstruments2022-04-3011317856core:ShareCapital2023-04-3011317856core:ShareCapital2022-04-3011317856core:RetainedEarningsAccumulatedLosses2023-04-3011317856core:RetainedEarningsAccumulatedLosses2022-04-3011317856core:ShareCapitalOrdinaryShares2023-04-3011317856core:ShareCapitalOrdinaryShares2022-04-3011317856core:FurnitureFittings2022-05-012023-04-3011317856core:ComputerEquipment2022-05-012023-04-3011317856core:MotorVehicles2022-05-012023-04-3011317856core:OtherPropertyPlantEquipment2022-04-3011317856core:OtherPropertyPlantEquipment2022-05-012023-04-3011317856bus:PrivateLimitedCompanyLtd2022-05-012023-04-3011317856bus:FRS1022022-05-012023-04-3011317856bus:AuditExemptWithAccountantsReport2022-05-012023-04-3011317856bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP