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Company Registration No. 11193059 (England and Wales)
MEDWAY ELECTRICAL LIMITED Unaudited accounts for the period from 1 March 2023 to 28 February 2024
MEDWAY ELECTRICAL LIMITED Unaudited accounts Contents
Page
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MEDWAY ELECTRICAL LIMITED Company Information for the period from 1 March 2023 to 28 February 2024
Director
Scott Wood
Company Number
11193059 (England and Wales)
Registered Office
UNIT 14 TECHNOLOGY CENTER CASTLE ROAD SITTINGBOURNE ME10 3RG ENGLAND
Accountants
Blue Sky Accountants Limited Innovation Centre Medway Maidstone Road Chatham Kent ME5 9FD
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MEDWAY ELECTRICAL LIMITED Accountants' report
Accountants' report to the director of MEDWAY ELECTRICAL LIMITED on the preparation of the unaudited statutory accounts for the period from 1 March 2023 to 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MEDWAY ELECTRICAL LIMITED for the period from 1 March 2023 to 28 February 2024 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 MEDWAY ELECTRICAL LIMITED, as a body, in accordance with the terms of our engagement letter dated 1 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of MEDWAY 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 MEDWAY ELECTRICAL LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MEDWAY 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 MEDWAY ELECTRICAL LIMITED. You consider that MEDWAY ELECTRICAL LIMITED is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of MEDWAY 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.
Blue Sky Accountants Limited Innovation Centre Medway Maidstone Road Chatham Kent ME5 9FD 14 March 2024
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MEDWAY ELECTRICAL LIMITED Statement of financial position as at 28 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
78,518 
346,478 
Current assets
Debtors
775,911 
455,621 
Cash at bank and in hand
1,035 
743,718 
776,946 
1,199,339 
Creditors: amounts falling due within one year
(16,833)
42,080 
Net current assets
760,113 
1,241,419 
Net assets
838,631 
1,587,897 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
838,531 
1,587,797 
Shareholders' funds
838,631 
1,587,897 
For the period ending 28 February 2024 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 14 March 2024 and were signed on its behalf by
Scott Wood Director Company Registration No. 11193059
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MEDWAY ELECTRICAL LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
1
Statutory information
MEDWAY ELECTRICAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11193059. The registered office is UNIT 14 TECHNOLOGY CENTER, CASTLE ROAD, SITTINGBOURNE, ME10 3RG, 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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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% Straight Line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2023
201,940 
56,387 
126,990 
9,754 
395,071 
At 28 February 2024
201,940 
56,387 
126,990 
9,754 
395,071 
Depreciation
At 1 March 2023
- 
14,098 
31,665 
2,830 
48,593 
Charge for the period
- 
- 
- 
1,731 
1,731 
On disposals
201,940 
42,289 
22,000 
- 
266,229 
At 28 February 2024
201,940 
56,387 
53,665 
4,561 
316,553 
Net book value
At 28 February 2024
- 
- 
73,325 
5,193 
78,518 
At 28 February 2023
201,940 
42,289 
95,325 
6,924 
346,478 
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MEDWAY ELECTRICAL LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
12,244 
455,621 
Amounts falling due after more than one year
Other debtors
763,667 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
6,265 
VAT
6,507 
(21,786)
Trade creditors
5,454 
42,490 
Taxes and social security
- 
(10,343)
Other creditors
4,872 
79,200 
Loans from directors
- 
(137,906)
16,833 
(42,080)
7
Average number of employees
During the period the average number of employees was 0 (2023: 0).
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