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REGISTERED NUMBER: 05867985 (England and Wales)











Powerline Services (MLJ) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Powerline Services (MLJ) Limited (Registered number: 05867985)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Powerline Services (MLJ) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs W S Jones
B C Jones





SECRETARY: Mrs W S Jones





REGISTERED OFFICE: Hollywell Business Park
Stoke Prior
Leominster
Herefordshire
HR6 0NF





REGISTERED NUMBER: 05867985 (England and Wales)





ACCOUNTANTS: Dyke Ruscoe & Hayes Ltd
Chartered Certified Accountants
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ

Powerline Services (MLJ) Limited (Registered number: 05867985)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,167,108 1,139,470

CURRENT ASSETS
Stocks 3,632 -
Debtors 5 55,103 114,632
Prepayments and accrued income 1,836 594
Cash at bank and in hand 115,136 546
175,707 115,772
CREDITORS
Amounts falling due within one year 6 469,816 497,650
NET CURRENT LIABILITIES (294,109 ) (381,878 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

872,999

757,592

CREDITORS
Amounts falling due after more than one
year

7

(420,994

)

(462,262

)

PROVISIONS FOR LIABILITIES (130,184 ) (135,129 )

ACCRUALS AND DEFERRED INCOME (3,640 ) (3,640 )
NET ASSETS 318,181 156,561

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 317,181 155,561
SHAREHOLDERS' FUNDS 318,181 156,561

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

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

The directors acknowledge their 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.

Powerline Services (MLJ) Limited (Registered number: 05867985)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





B C Jones - Director


Powerline Services (MLJ) Limited (Registered number: 05867985)

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

1. STATUTORY INFORMATION

Powerline Services (MLJ) 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.

No profit and loss account is filed

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 the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance, 20% on reducing balance, 10% on reducing balance, Straight line over 3 years and Straight line over 2 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 10% on reducing balance
Computer equipment - 30% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Powerline Services (MLJ) Limited (Registered number: 05867985)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 648,929 586,521 2,425
Additions 61,290 226,359 -
Disposals - (252,260 ) -
At 31 December 2023 710,219 560,620 2,425
DEPRECIATION
At 1 January 2023 49,976 101,635 2,144
Charge for year 13,869 34,107 70
Eliminated on disposal - (45,687 ) -
At 31 December 2023 63,845 90,055 2,214
NET BOOK VALUE
At 31 December 2023 646,374 470,565 211
At 31 December 2022 598,953 484,886 281

Powerline Services (MLJ) Limited (Registered number: 05867985)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 62,270 7,262 1,307,407
Additions - 439 288,088
Disposals - - (252,260 )
At 31 December 2023 62,270 7,701 1,343,235
DEPRECIATION
At 1 January 2023 7,638 6,544 167,937
Charge for year 5,541 290 53,877
Eliminated on disposal - - (45,687 )
At 31 December 2023 13,179 6,834 176,127
NET BOOK VALUE
At 31 December 2023 49,091 867 1,167,108
At 31 December 2022 54,632 718 1,139,470

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 298,060 13,917 311,977
Additions 163,000 - 163,000
Disposals (214,560 ) - (214,560 )
At 31 December 2023 246,500 13,917 260,417
DEPRECIATION
At 1 January 2023 47,861 1,167 49,028
Charge for year 10,385 1,275 11,660
Eliminated on disposal (38,162 ) - (38,162 )
At 31 December 2023 20,084 2,442 22,526
NET BOOK VALUE
At 31 December 2023 226,416 11,475 237,891
At 31 December 2022 250,199 12,750 262,949

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 55,103 114,632

Powerline Services (MLJ) Limited (Registered number: 05867985)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 11,918
Other loans 52,741 53,935
Hire purchase contracts 66,905 88,915
Trade creditors 15,698 19,968
Tax 76,976 20,735
Social security and other taxes 2,905 3,858
VAT 24,857 23,936
Other creditors 353 32
Directors' current accounts 229,381 274,353
469,816 497,650

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 44,762 44,916
Other loans - 2-5 years 90,424 111,031
Other loans - over 5 years 175,049 200,819
Hire purchase contracts 110,759 105,496
420,994 462,262

Amounts falling due in more than five years:

Repayable by instalments
Other loans - over 5 years 175,049 200,819

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 177,664 194,411
Bank overdraft - 7,314
Secured loans 304,762 331,658
482,426 533,383

A bank overdraft is secured on the home of Mrs W Jones.

Certain loans are secured on the freehold property of the company.

The hire purchase liabilities are secured on the assets financed.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs W S Jones.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Powerline Services (MLJ) Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Powerline Services (MLJ) Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Powerline Services (MLJ) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powerline Services (MLJ) Limited and state those matters that we have agreed to state to the Board of Directors of Powerline Services (MLJ) Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Powerline Services (MLJ) 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 Powerline Services (MLJ) Limited. You consider that Powerline Services (MLJ) 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 Powerline Services (MLJ) 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.






Dyke Ruscoe & Hayes Ltd
Chartered Certified Accountants
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ


6 August 2024