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Company Registration No. 06650179 (England and Wales)
N & M Electrical Limited Unaudited accounts for the year ended 31 July 2023
N & M Electrical Limited Unaudited accounts Contents
Page
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N & M Electrical Limited Company Information for the year ended 31 July 2023
Director
Mr Matthew Phillips
Company Number
06650179 (England and Wales)
Registered Office
POST OFFICE VAULTS 4 MARKET PLACE WANTAGE OXFORDSHIRE OX12 8AT ENGLAND
Accountants
J JENKIN & ASSOCIATES LIMITED POST OFFICE VAULTS 4 MARKET PLACE WANTAGE OXFORDSHIRE OX12 8AT
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N & M Electrical Limited Accountants' report
Accountants' report to the director of N & M Electrical Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of N & M Electrical Limited for the year ended 31 July 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 N & M Electrical Limited, as a body, in accordance with the terms of our engagement letter dated 5 September 2018. Our work has been undertaken solely to prepare for your approval the accounts of N & M 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 N & M Electrical Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that N & M 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 N & M Electrical Limited. You consider that N & M 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 N & M 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.
J JENKIN & ASSOCIATES LIMITED POST OFFICE VAULTS 4 MARKET PLACE WANTAGE OXFORDSHIRE OX12 8AT 15 January 2024
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N & M Electrical Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,675 
6,920 
Current assets
Inventories
20,000 
20,000 
Debtors
114,299 
44,445 
Cash at bank and in hand
132,664 
97,523 
266,963 
161,968 
Creditors: amounts falling due within one year
(33,278)
(27,608)
Net current assets
233,685 
134,360 
Total assets less current liabilities
239,360 
141,280 
Provisions for liabilities
Deferred tax
(1,078)
(1,315)
Net assets
238,282 
139,965 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
238,280 
139,963 
Shareholders' funds
238,282 
139,965 
For the year ending 31 July 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 17 January 2024 and were signed on its behalf by
Mr Matthew Phillips Director Company Registration No. 06650179
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N & M Electrical Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
N & M Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 06650179. The registered office is POST OFFICE VAULTS, 4 MARKET PLACE, WANTAGE, OXFORDSHIRE, OX12 8AT, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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N & M Electrical Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
167 
14,156 
5,976 
20,299 
Additions
- 
- 
540 
540 
At 31 July 2023
167 
14,156 
6,516 
20,839 
Depreciation
At 1 August 2022
42 
8,654 
4,683 
13,379 
Charge for the year
41 
1,376 
368 
1,785 
At 31 July 2023
83 
10,030 
5,051 
15,164 
Net book value
At 31 July 2023
84 
4,126 
1,465 
5,675 
At 31 July 2022
125 
5,502 
1,293 
6,920 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
12,154 
6,995 
Trade debtors
102,145 
37,450 
114,299 
44,445 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
1,146 
Taxes and social security
28,800 
20,041 
Other creditors
924 
6,421 
Loans from directors
3,554 
- 
33,278 
27,608 
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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