Registered number
04727710
D Maders Electrical Limited
Filleted Accounts
31 March 2024
D Maders Electrical Limited
Registered number: 04727710
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,742 31,655
Current assets
Stocks 300 300
Debtors 4 20,163 14,111
Cash at bank and in hand 2,865 4,282
23,328 18,693
Creditors: amounts falling due within one year 5 (43,915) (36,242)
Net current liabilities (20,587) (17,549)
Net assets 3,155 14,106
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,055 14,006
Shareholders' funds 3,155 14,106
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
C Maders
Director
Approved by the board on 19 April 2024
D Maders Electrical Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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:
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023 42,597
At 31 March 2024 42,597
Depreciation
At 1 April 2023 10,942
Charge for the year 7,913
At 31 March 2024 18,855
Net book value
At 31 March 2024 23,742
At 31 March 2023 31,655
4 Debtors 2024 2023
£ £
Trade debtors 20,163 14,111
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,100 5,300
Trade creditors 3,818 2,143
Taxation and social security costs (637) (3,021)
Other creditors 37,634 31,820
43,915 36,242
6 Other information
D Maders Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
30 Arncliffe Rise
Moorside
Oldham
OL4 2LZ
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