2022-08-012023-07-312023-07-31false06880916MAVEN ELECTRICAL 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MAVEN ELECTRICAL LIMITED

Registered Number
06880916
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

MAVEN ELECTRICAL LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

CHILDS, Andrew Edward

Company Secretary

CHILDS, Hannah Kate

Registered Address

20 Railway Side
Barnes
London
SW13 0PN

Registered Number

06880916 (England and Wales)
MAVEN ELECTRICAL LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets62,0591,810
2,0591,810
Current assets
Debtors84,5863,653
Cash at bank and on hand7,8953,420
12,4817,073
Creditors amounts falling due within one year9(5,821)(1,761)
Net current assets (liabilities)6,6605,312
Total assets less current liabilities8,7197,122
Provisions for liabilities10(514)(344)
Net assets8,2056,778
Capital and reserves
Called up share capital100100
Profit and loss account8,1056,678
Shareholders' funds8,2056,778
The financial statements were approved and authorised for issue by the Director on 8 March 2024, and are signed on its behalf by:
CHILDS, Andrew Edward
Director
Registered Company No. 06880916
MAVEN ELECTRICAL LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery33
Office Equipment33
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year11
6.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 August 2211,1701,36512,535
Additions7454301,175
At 31 July 2311,9151,79513,710
Depreciation and impairment
At 01 August 2210,27045510,725
Charge for year542384926
At 31 July 2310,81283911,651
Net book value
At 31 July 231,1039562,059
At 31 July 229009101,810
7.Directors advances, credits and guarantees
Included in other creditors is an amount of £1,881 (2022: £207) relates to director's loan account Mr A E Childs.
8.Debtors

2023

2022

££
Trade debtors / trade receivables4,2153,197
Prepayments and accrued income371456
Total4,5863,653
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables125233
Taxation and social security3,8151,321
Other creditors1,881207
Total5,8211,761
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)514344
Total514344