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REGISTERED NUMBER: 04300730 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Mayfair Electrical Limited

Mayfair Electrical Limited (Registered number: 04300730)






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


Mayfair Electrical Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Cliff Robert Jones





SECRETARY: Mandy Louise Jones





REGISTERED OFFICE: Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX





REGISTERED NUMBER: 04300730 (England and Wales)





ACCOUNTANTS: KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

Mayfair Electrical Limited (Registered number: 04300730)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 208,852 41,151

CURRENT ASSETS
Stocks 5 2,500 2,500
Debtors 6 17,761 27,129
Cash at bank 324,078 451,566
344,339 481,195
CREDITORS
Amounts falling due within one year 7 118,342 123,152
NET CURRENT ASSETS 225,997 358,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

434,849

399,194

PROVISIONS FOR LIABILITIES 5,726 7,819
NET ASSETS 429,123 391,375

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 429,121 391,373
SHAREHOLDERS' FUNDS 429,123 391,375

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.

Mayfair Electrical Limited (Registered number: 04300730)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





Cliff Robert Jones - Director


Mayfair Electrical Limited (Registered number: 04300730)

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

1. STATUTORY INFORMATION

Mayfair Electrical 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Fixtures and fittings - 25% 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 Statement of Income and Retained Earnings, 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.

Mayfair Electrical Limited (Registered number: 04300730)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 7,680 1,199 44,610 53,489
Additions 176,073 - - 176,073
At 31 January 2024 183,753 1,199 44,610 229,562
DEPRECIATION
At 1 February 2023 - 1,185 11,153 12,338
Charge for year - 8 8,364 8,372
At 31 January 2024 - 1,193 19,517 20,710
NET BOOK VALUE
At 31 January 2024 183,753 6 25,093 208,852
At 31 January 2023 7,680 14 33,457 41,151

5. STOCKS
31.1.24 31.1.23
£    £   
Stocks 2,500 2,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 16,450 26,843
VAT - 286
Prepayments 1,311 -
17,761 27,129

Mayfair Electrical Limited (Registered number: 04300730)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 27,310 9,385
Corporation tax 32,401 49,463
Social security and other taxes 2,203 2,232
Wages control 3,674 1,193
VAT 2,641 -
Other creditors 47,297 56,570
Directors' current accounts 416 2,009
Accrued expenses 2,400 2,300
118,342 123,152

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary £1 2 2

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Cliff Robert Jones
Balance outstanding at start of year (2,010 ) 1,609
Amounts advanced 65,593 -
Amounts repaid (64,000 ) (3,619 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (417 ) (2,010 )

Included in debtors/(creditors) is an amount due from/(to) the director as above. This loan is interest free, undated, unsecured and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

No one has a controlling interest in the company