Registered number
12698092
MPS-Lighting Ltd
Filleted Accounts
30 June 2023
MPS-Lighting Ltd
Registered number: 12698092
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 37,357 37,431
Current assets
Debtors 4 2,635 1,245
Cash at bank and in hand 23,125 7,320
25,760 8,565
Creditors: amounts falling due within one year 5 (45,506) (45,063)
Net current liabilities (19,746) (36,498)
Net assets 17,611 933
Capital and reserves
Called up share capital 1 1
Profit and loss account 17,610 932
Shareholder's funds 17,611 933
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M P Stephens
Director
Approved by the board on 29 March 2024
MPS-Lighting Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors
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.
Creditors
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 47,497
Additions 9,265
At 30 June 2023 56,762
Depreciation
At 1 July 2022 10,066
Charge for the year 9,339
At 30 June 2023 19,405
Net book value
At 30 June 2023 37,357
At 30 June 2022 37,431
4 Debtors 2023 2022
£ £
Trade debtors 2,635 1,245
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 22,412 26,585
Taxation and social security costs 14,796 7,677
Other creditors 8,298 10,801
45,506 45,063
6 Loans to directors
At the year end, the company owed the director £8,298 (2022: £10,801)
7 Other information
MPS-Lighting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44 Redlaver Street
Cardiff
CF11 7LZ
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