Registered number
10553909
S I MECHANICAL-INSTALLATION LTD
Filleted Accounts
31 January 2024
S I MECHANICAL-INSTALLATION LTD
Registered number: 10553909
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,139 22,379
Current assets
Debtors 4 184,257 96,874
Cash at bank and in hand 138,749 214,391
323,006 311,265
Creditors: amounts falling due within one year 5 (34,051) (58,293)
Net current assets 288,955 252,972
Net assets 306,094 275,351
Capital and reserves
Called up share capital 100 100
Profit and loss account 305,994 275,251
Shareholders' funds 306,094 275,351
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 I. Sirghi
Director
Approved by the board on 14 October 2024
S I MECHANICAL-INSTALLATION LTD
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
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 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 12,506 25,333 37,839
Additions 473 - 473
At 31 January 2024 12,979 25,333 38,312
Depreciation
At 1 February 2023 9,127 6,333 15,460
Charge for the year 963 4,750 5,713
At 31 January 2024 10,090 11,083 21,173
Net book value
At 31 January 2024 2,889 14,250 17,139
At 31 January 2023 3,379 19,000 22,379
4 Debtors 2024 2023
£ £
Trade debtors 99,045 51,777
Other debtors 85,212 45,097
184,257 96,874
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 32,359 56,133
Other creditors 1,692 2,160
34,051 58,293
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr I. Sirghi 42,635 134,545 (96,173) 81,007
Unsecured, at official rate of interest, repaid within 9 monhts of the company's current accounting period
42,635 134,545 (96,173) 81,007
7 Other information
S I MECHANICAL-INSTALLATION LTD is a private company limited by shares and incorporated in England. Its registered office is: 129 Colney Hatch Lane, N10 1HD
129 Colney Hatch Lane
London
England
N10 1HD
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