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REGISTERED NUMBER: 04141841 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

M B Electrical Contractors Limited

M B Electrical Contractors Limited (Registered number: 04141841)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M B Electrical Contractors Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr M Batty





SECRETARY: Mr M Batty





REGISTERED OFFICE: Wiza House
Station Road
Wigton
Cumbria
CA7 9BA





REGISTERED NUMBER: 04141841 (England and Wales)





ACCOUNTANTS: Benson Accountants
Wiza House
Station Road
Wigton
Cumbria
CA7 9BA

M B Electrical Contractors Limited (Registered number: 04141841)

Balance Sheet
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,950 120,012

CURRENT ASSETS
Stocks 250 250
Debtors 5 18,845 38,749
Cash at bank 99,566 32,003
118,661 71,002
CREDITORS
Amounts falling due within one year 6 21,968 9,936
NET CURRENT ASSETS 96,693 61,066
TOTAL ASSETS LESS CURRENT LIABILITIES 167,643 181,078

CREDITORS
Amounts falling due after more than one
year

7

(5,378

)

(9,228

)

PROVISIONS FOR LIABILITIES (8,514 ) (2,847 )
NET ASSETS 153,751 169,003

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 153,750 169,002
SHAREHOLDERS' FUNDS 153,751 169,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

M B Electrical Contractors Limited (Registered number: 04141841)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 19 July 2024 and were signed by:





Mr M Batty - Director


M B Electrical Contractors Limited (Registered number: 04141841)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

M B Electrical Contractors 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 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.
Long leasehold - 15% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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

M B Electrical Contractors Limited (Registered number: 04141841)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 February 2023 261,380 59,404 27,253 348,037
Additions - 458 - 458
At 31 January 2024 261,380 59,862 27,253 348,495
DEPRECIATION
At 1 February 2023 196,035 25,177 6,813 228,025
Charge for year 39,207 5,203 5,110 49,520
At 31 January 2024 235,242 30,380 11,923 277,545
NET BOOK VALUE
At 31 January 2024 26,138 29,482 15,330 70,950
At 31 January 2023 65,345 34,227 20,440 120,012

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 3,600 3,600
Other debtors 15,245 35,149
18,845 38,749

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade creditors 64 23
Taxation and social security 12,154 379
Other creditors 9,750 9,534
21,968 9,936

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans 5,378 9,228

M B Electrical Contractors Limited (Registered number: 04141841)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. RELATED PARTY DISCLOSURES

During the year, the company had a loan with the director. This is reflected in the directors loan account and at the balance sheet date, the amount due from Mr M Batty was £9,426 (2023 - £16,472). This loan is interest free, unsecured and repayable on demand.

During the year, the company rented land and buildings at Blackwood Road, Lillyhall Industrial Estate, Workington, CA14 4JW for a rent of £500. This property is owned personally by Mr M Batty, Director. A lease was signed between Mr Batty and the company on 10th September 2010 for a term of 15 years. Under the terms of the lease, the rent can be reviewed to a market value rent on every third anniversary of the start of the lease term.