Registered number
08419605
Mark Henden Electrical Limited
Un-audited Filleted Accounts
31 January 2024
Mark Henden Electrical Limited
Registered number: 08419605
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,552 24,759
Current assets
Stocks - 1,400
Debtors 4 34,757 23,507
Cash at bank and in hand 3,424 5,903
38,181 30,810
Creditors: amounts falling due within one year 5 (41,581) (29,596)
Net current (liabilities)/assets (3,400) 1,214
Total assets less current liabilities 18,152 25,973
Creditors: amounts falling due after more than one year 6 (18,239) (24,499)
Net (liabilities)/assets (87) 1,474
Capital and reserves
Called up share capital 1 1
Profit and loss account (88) 1,473
Shareholder's funds (87) 1,474
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M J Henden
Director
Approved by the board on 17 October 2024
Mark Henden Electrical Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehicles 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Going Concern
The directors have given consideration to the continuing operations of the company and this has given rise to no material uncertainties regarding going concern. As a result, the accounts have been prepared under the going concern basis of accounting.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 18,250 29,512 47,762
Additions 597 - 597
At 31 January 2024 18,847 29,512 48,359
Depreciation
At 1 February 2023 11,615 11,388 23,003
Charge for the year 1,085 2,719 3,804
At 31 January 2024 12,700 14,107 26,807
Net book value
At 31 January 2024 6,147 15,405 21,552
At 31 January 2023 6,635 18,124 24,759
4 Debtors 2024 2023
£ £
Trade debtors 11,158 6,202
Other debtors 23,599 17,305
34,757 23,507
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,778 2,778
Obligations under finance lease and hire purchase contracts 3,482 3,483
Trade creditors 7,020 3,364
Taxation and social security costs 23,171 18,471
Other creditors 5,130 1,500
41,581 29,596
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,046 17,824
Obligations under finance lease and hire purchase contracts 3,193 6,675
18,239 24,499
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors' loan account 5,097 39,486 (27,294) 17,289
5,097 39,486 (27,294) 17,289
The balance £17,289 (2023: £5,097) is included in other debtors. The maximum overdrawn balance during the year was £24,532. Interest has been charged on overdrawn balances greater than £10,000 at the official rate. The loan was partially repaid in October 2024 with s455 payable on the balance.
8 Other information
Mark Henden Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Edgar Buildings
Bath
BA1 2FJ
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