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REGISTERED NUMBER: 08698584 (England and Wales)















M B Electrical (Bolton) Limited

Unaudited Financial Statements for the Year Ended 31 October 2023






M B Electrical (Bolton) Limited (Registered number: 08698584)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


M B Electrical (Bolton) Limited

Company Information
for the Year Ended 31 October 2023







Director: Martin Philip Baker





Registered office: 32 Lee Lane
Horwich
Bolton
BL6 7BY





Registered number: 08698584 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Accountants' Report to the Director
on the Unaudited Financial Statements of
M B Electrical (Bolton) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M B Electrical (Bolton) Limited for the year ended 31 October 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of M B Electrical (Bolton) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M B Electrical (Bolton) Limited and state those matters that we have agreed to state to the director of M B Electrical (Bolton) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that M B Electrical (Bolton) 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 M B Electrical (Bolton) Limited. You consider that M B Electrical (Bolton) 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 M B Electrical (Bolton) 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.






Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY


29 July 2024

M B Electrical (Bolton) Limited (Registered number: 08698584)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 15,000 15,000
Tangible assets 5 34,710 7,272
49,710 22,272

Current assets
Stocks 1,400 1,420
Debtors 6 10,597 26,764
Cash at bank 16,629 10,514
28,626 38,698
Creditors
Amounts falling due within one year 7 26,155 26,726
Net current assets 2,471 11,972
Total assets less current liabilities 52,181 34,244

Creditors
Amounts falling due after more than
one year

8

(38,424

)

(31,251

)

Provisions for liabilities 9 (6,594 ) (1,381 )
Net assets 7,163 1,612

M B Electrical (Bolton) Limited (Registered number: 08698584)

Statement of Financial Position - continued
31 October 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 100 100
Retained earnings 7,063 1,512
Shareholders' funds 7,163 1,612

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Martin Philip Baker - Director


M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. Statutory information

M B Electrical (Bolton) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at fair value of the consideration receivable for electrical services rendered during the year.

Goodwill
Amortisation of goodwill has not been provided by the company as in the opinion of the director it has an indefinite useful economic life. This accounting policy departs from the usual requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirement of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £1,500 and the profit for the year reduced accordingly.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2022
and 31 October 2023 15,000
Net book value
At 31 October 2023 15,000
At 31 October 2022 15,000

M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 November 2022 760 417 21,366 22,543
Additions - - 37,386 37,386
Disposals - - (21,366 ) (21,366 )
At 31 October 2023 760 417 37,386 38,563
Depreciation
At 1 November 2022 658 9 14,604 15,271
Charge for year 61 9 3,116 3,186
Eliminated on disposal - - (14,604 ) (14,604 )
At 31 October 2023 719 18 3,116 3,853
Net book value
At 31 October 2023 41 399 34,270 34,710
At 31 October 2022 102 408 6,762 7,272

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 4,579 18,401
Other debtors 6,018 8,363
10,597 26,764

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loan 4,401 4,401
Hire purchase contracts 4,347 -
Trade creditors 6,386 8,518
Taxation and social security 7,658 11,625
Other creditors 3,363 2,182
26,155 26,726

M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loan 26,841 31,251
Hire purchase contracts 11,583 -
38,424 31,251

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 6,594 1,381

Deferred
tax
£   
Balance at 1 November 2022 1,381
Provided during year 5,213
Balance at 31 October 2023 6,594

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares 1.00 100 100

11. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Martin Philip Baker
Balance outstanding at start of year 7,920 6,157
Amounts advanced 38,251 35,156
Amounts repaid (42,407 ) (33,393 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,764 7,920