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REGISTERED NUMBER: 09449433 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 29 February 2024

for

MJC Electrical Contractors Limited

MJC Electrical Contractors Limited (Registered number: 09449433)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJC Electrical Contractors Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: M J Crowley





REGISTERED OFFICE: 1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT





REGISTERED NUMBER: 09449433 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

MJC Electrical Contractors Limited (Registered number: 09449433)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 21,173 8,992
21,173 8,992

CURRENT ASSETS
Inventories 7 6,037 16,566
Debtors 8 124,208 76,463
Cash at bank 1,602 467
131,847 93,496
CREDITORS
Amounts falling due within one
year

9

99,277

58,114
NET CURRENT ASSETS 32,570 35,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,743

44,374

CREDITORS
Amounts falling due after more
than one year

10

(48,194

)

(42,624

)

PROVISIONS FOR LIABILITIES (3,916 ) (1,579 )
NET ASSETS 1,633 171

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 1,533 71
SHAREHOLDERS' FUNDS 1,633 171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MJC Electrical Contractors Limited (Registered number: 09449433)

Balance Sheet - continued
29 February 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 8 October 2024 and were signed by:





M J Crowley - Director


MJC Electrical Contractors Limited (Registered number: 09449433)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

MJC 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.

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


2. STATEMENT OF COMPLIANCE

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. There have been no material departures from this standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.


MJC Electrical Contractors Limited (Registered number: 09449433)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Loans from the director
As a small entity the company measures a basic financial liability that are loans from the director at transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 5,000
AMORTISATION
At 1 March 2023
and 29 February 2024 5,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

MJC Electrical Contractors Limited (Registered number: 09449433)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 7,345 26,545 1,611 35,501
Additions 213 18,999 305 19,517
Disposals (141 ) - - (141 )
At 29 February 2024 7,417 45,544 1,916 54,877
DEPRECIATION
At 1 March 2023 4,217 21,346 946 26,509
Charge for year 491 6,399 383 7,273
Eliminated on disposal (78 ) - - (78 )
At 29 February 2024 4,630 27,745 1,329 33,704
NET BOOK VALUE
At 29 February 2024 2,787 17,799 587 21,173
At 28 February 2023 3,128 5,199 665 8,992

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 12,998
Additions 18,999
At 29 February 2024 31,997
DEPRECIATION
At 1 March 2023 7,799
Charge for year 6,399
At 29 February 2024 14,198
NET BOOK VALUE
At 29 February 2024 17,799
At 28 February 2023 5,199

7. INVENTORIES
29.2.24 28.2.23
£    £   
Stocks 3,860 12,430
Work-in-progress 2,177 4,136
6,037 16,566

MJC Electrical Contractors Limited (Registered number: 09449433)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 80,452 64,181
Other debtors 36,744 8,370
Prepayments and accrued income 821 2,088
118,017 74,639

Amounts falling due after more than one year:
Other debtors 6,191 1,824

Aggregate amounts 124,208 76,463

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,266 5,516
Hire purchase contracts 6,071 2,584
Trade creditors 65,404 29,472
Tax 12,469 9,547
Social security and other
taxes

-

980
Other creditors 8,017 7,250
Accruals and deferred income 2,050 2,765
99,277 58,114

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-5 years 22,563 22,283
Bank loans more 5 yr by instal 9,146 14,368
Hire purchase contracts 16,485 5,973
48,194 42,624

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,146 14,368

11. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 22,556 8,557

Obligations under finance leases and hire purchase contracts are secured on the related lease assets.

MJC Electrical Contractors Limited (Registered number: 09449433)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary 1 100 100

13. CAPITAL COMMITMENTS
29.2.24 28.2.23
£    £   
Contracted but not provided for in the
financial statements - -

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
M J Crowley
Balance outstanding at start of year 5,613 10,025
Amounts advanced 25,250 -
Amounts repaid (12,312 ) (4,412 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,551 5,613

15. RELATED PARTY DISCLOSURES

The director's loan account is interest free with no specific repayment terms and is presented within current assets.