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
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
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
N & M Electrical Limited
Statement of financial position
as at 31 July 2023
Tangible assets
5,675
6,920
Cash at bank and in hand
132,664
97,523
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
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
N & M Electrical Limited
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
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 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 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.
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.
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
At 31 July 2023
167
14,156
6,516
20,839
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
At 31 July 2023
84
4,126
1,465
5,675
At 31 July 2022
125
5,502
1,293
6,920
Amounts falling due within one year
Trade debtors
102,145
37,450
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
28,800
20,041
Loans from directors
3,554
-
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).