M P Electrical & Property Services Ltd 09438521 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Electrical installation Digita Accounts Production Advanced 6.30.9574.0 true 09438521 2023-04-01 2024-03-31 09438521 2024-03-31 09438521 core:RetainedEarningsAccumulatedLosses 2024-03-31 09438521 core:ShareCapital 2024-03-31 09438521 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 09438521 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 09438521 core:CurrentFinancialInstruments 2024-03-31 09438521 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09438521 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09438521 core:PlantMachinery 2024-03-31 09438521 bus:SmallEntities 2023-04-01 2024-03-31 09438521 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09438521 bus:FilletedAccounts 2023-04-01 2024-03-31 09438521 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09438521 bus:RegisteredOffice 2023-04-01 2024-03-31 09438521 bus:Director1 2023-04-01 2024-03-31 09438521 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09438521 core:PlantMachinery 2023-04-01 2024-03-31 09438521 countries:EnglandWales 2023-04-01 2024-03-31 09438521 2023-03-31 09438521 core:PlantMachinery 2023-03-31 09438521 2022-04-01 2023-03-31 09438521 2023-03-31 09438521 core:RetainedEarningsAccumulatedLosses 2023-03-31 09438521 core:ShareCapital 2023-03-31 09438521 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 09438521 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 09438521 core:CurrentFinancialInstruments 2023-03-31 09438521 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09438521 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09438521 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09438521

M P Electrical & Property Services Ltd

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

M P Electrical & Property Services Ltd

(Registration number: 09438521)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,403

23,364

Current assets

 

Stocks

5

1,000

1,120

Debtors

6

8,299

15,959

Cash at bank and in hand

 

86,796

74,604

 

96,095

91,683

Creditors: Amounts falling due within one year

7

(105,468)

(100,508)

Net current liabilities

 

(9,373)

(8,825)

Total assets less current liabilities

 

9,030

14,539

Creditors: Amounts falling due after more than one year

7

(5,345)

(9,876)

Provisions for liabilities

(3,497)

(4,439)

Net assets

 

188

224

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

88

124

Shareholders' funds

 

188

224

 

M P Electrical & Property Services Ltd

(Registration number: 09438521)
Statement of Financial Position as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 30 September 2024
 

.........................................
Mr Michael John Peters
Director

 

M P Electrical & Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

M P Electrical & Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Asset class

Depreciation method and rate

Plant and machinery etc

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

M P Electrical & Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

M P Electrical & Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

35,840

35,840

Additions

1,175

1,175

At 31 March 2024

37,015

37,015

Depreciation

At 1 April 2023

12,476

12,476

Charge for the year

6,136

6,136

At 31 March 2024

18,612

18,612

Carrying amount

At 31 March 2024

18,403

18,403

At 31 March 2023

23,364

23,364

5

Stocks

2024
£

2023
£

Work in progress

-

120

Other inventories

1,000

1,000

1,000

1,120

6

Debtors

2024
£

2023
£

Trade debtors

2,882

6,917

Other debtors

5,417

9,042

8,299

15,959

 

M P Electrical & Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

4,530

4,530

Trade creditors

 

1,150

4,834

Taxation and social security

 

7,069

2,037

Accruals and deferred income

 

1,400

700

Other creditors

 

91,319

88,407

 

105,468

100,508

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

5,345

9,876

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,345

9,876

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,530

4,530