M L Energy Limited 14149745 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of professional electrical services. Digita Accounts Production Advanced 6.30.9574.0 true true 14149745 2023-01-01 2023-12-31 14149745 2023-12-31 14149745 core:CurrentFinancialInstruments 2023-12-31 14149745 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14149745 core:FurnitureFittings 2023-12-31 14149745 core:MotorVehicles 2023-12-31 14149745 1 2023-12-31 14149745 bus:SmallEntities 2023-01-01 2023-12-31 14149745 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 14149745 bus:FilletedAccounts 2023-01-01 2023-12-31 14149745 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 14149745 bus:RegisteredOffice 2023-01-01 2023-12-31 14149745 bus:Director1 2023-01-01 2023-12-31 14149745 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14149745 core:FurnitureFittings 2023-01-01 2023-12-31 14149745 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 14149745 core:MotorVehicles 2023-01-01 2023-12-31 14149745 countries:EnglandWales 2023-01-01 2023-12-31 14149745 1 2023-01-01 2023-12-31 14149745 2022-12-31 14149745 core:FurnitureFittings 2022-12-31 14149745 core:MotorVehicles 2022-12-31 14149745 1 2022-12-31 14149745 2022-06-06 2022-12-31 14149745 2022-12-31 14149745 core:CurrentFinancialInstruments 2022-12-31 14149745 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 14149745 core:FurnitureFittings 2022-12-31 14149745 core:MotorVehicles 2022-12-31 14149745 1 2022-12-31 14149745 1 2022-06-06 2022-12-31 14149745 1 2022-06-05 iso4217:GBP xbrli:pure

Registration number: 14149745

M L Energy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

M L Energy Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

M L Energy Limited

(Registration number: 14149745)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,500

4,500

Current assets

 

Stocks

5

9,225

1,479

Debtors

6

2,824

3,573

Cash at bank and in hand

 

3,730

1,562

 

15,779

6,614

Creditors: Amounts falling due within one year

7

(31,524)

(18,765)

Net current liabilities

 

(15,745)

(12,151)

Net liabilities

 

(12,245)

(7,651)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(12,345)

(7,751)

Shareholders' deficit

 

(12,245)

(7,651)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 


Mr L Maddicks
Director

 

M L Energy Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Southernhay
Longdogs Lane
Ottery St Mary
Devon
EX11 1HX
United Kingdom

Principal activity

The principal activity of the company is that of professional electrical services.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets of to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

 

M L Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

20% straight line

Motor vehicles

20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

M L Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

M L Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

1,000

4,000

5,000

At 31 December 2023

1,000

4,000

5,000

Depreciation

At 1 January 2023

100

400

500

Charge for the year

200

800

1,000

At 31 December 2023

300

1,200

1,500

Carrying amount

At 31 December 2023

700

2,800

3,500

At 31 December 2022

900

3,600

4,500

5

Stocks

2023
£

2022
£

Work in progress

7,517

479

Finished goods and goods for resale

1,708

1,000

9,225

1,479

6

Debtors

2023
£

2022
£

Trade debtors

2,729

3,424

Prepayments

95

149

2,824

3,573

 

M L Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

7,536

2,767

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

11,966

9,966

Taxation and social security

 

3,493

-

Accruals and deferred income

 

2,035

1,480

Other creditors

 

6,494

4,552

 

31,524

18,765

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Directors

(3,631)

1,100

(2,531)

       
     

 

2022

At 6 June 2022
£

Advances to director
£

At 31 December 2022
£

Directors

-

(3,631)

(3,631)