Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC392903 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC392903 2023-03-31 OC392903 2024-03-31 OC392903 2023-04-01 2024-03-31 OC392903 frs-core:CurrentFinancialInstruments 2024-03-31 OC392903 frs-core:MotorVehicles 2024-03-31 OC392903 frs-core:MotorVehicles 2023-04-01 2024-03-31 OC392903 frs-core:MotorVehicles 2023-03-31 OC392903 frs-core:PlantMachinery 2024-03-31 OC392903 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC392903 frs-core:PlantMachinery 2023-03-31 OC392903 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC392903 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC392903 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC392903 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC392903 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC392903 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC392903 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC392903 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC392903 2022-03-31 OC392903 2023-03-31 OC392903 2022-04-01 2023-03-31 OC392903 frs-core:CurrentFinancialInstruments 2023-03-31
Registered number: OC392903
MSC Electrical Contractors LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
The Able Partnership
Anvil House
1 The Woodlands
Upton-upon-Severn
Worcestershire
WR8 0PQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC392903
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 106 142
106 142
CURRENT ASSETS
Debtors 5 381 -
Cash at bank and in hand 3,121 128
3,502 128
Creditors: Amounts Falling Due Within One Year 6 (10,802 ) (13,933 )
NET CURRENT ASSETS (LIABILITIES) (7,300 ) (13,805 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,194 ) (13,663 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (7,194 ) (13,663 )
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 37,541 34,847
37,541 34,847
Equity
Members' other interests
Members' capital (44,735) (48,510)
(44,735) (48,510)
(7,194) (13,663)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 37,541 34,847
Members' other interests (44,735) (48,510)
(7,194) (13,663)
Page 1
Page 2
For the year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Matthew Chorley
Partner
19th September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MSC Electrical Contractors LLP is a limited liability partnership, incorporated in England & Wales, registered number OC392903 . The Registered Office is 3 The Woodlands, Upton-upon-Severn, Worcestershire, WR8 0PQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was:
2024 2023
Office and administration 3 3
Manufacturing 1 1
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 1,438 2,280 3,718
As at 31 March 2024 1,438 2,280 3,718
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 1,392 2,184 3,576
Provided during the period 12 24 36
As at 31 March 2024 1,404 2,208 3,612
Net Book Value
As at 31 March 2024 34 72 106
As at 1 April 2023 46 96 142
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 381 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 302 1,933
Bank loans and overdrafts 9,750 11,250
Accruals and deferred income 750 750
10,802 13,933
Page 4