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Momentum Utility Services Limited

Financial Statements for the Year Ended 31 January 2024






Momentum Utility Services Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D W Emery
W F Jeffrey
G H Roberts
R H D Wynne





REGISTERED OFFICE: The Coach House
Itton
Chepstow
NP16 6BP





REGISTERED NUMBER: 11146104 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Momentum Utility Services Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Momentum Utility Services Limited for the year ended 31 January 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Momentum Utility Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Momentum Utility Services Limited and state those matters that we have agreed to state to the Board of Directors of Momentum Utility Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Momentum Utility Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Momentum Utility Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Momentum Utility Services Limited. You consider that Momentum Utility Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Momentum Utility Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


29 October 2024

Momentum Utility Services Limited (Registered number: 11146104)

Balance Sheet
31 January 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 56,166 12,301

CURRENT ASSETS
Stocks 81,039 67,039
Debtors 4 1,155,295 649,260
Cash at bank 419,351 127,357
1,655,685 843,656
CREDITORS
Amounts falling due within one year 5 1,230,118 624,760
NET CURRENT ASSETS 425,567 218,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

481,733

231,197

CREDITORS
Amounts falling due after more than
one year

6

(60,008

)

(104,602

)

PROVISIONS FOR LIABILITIES (14,000 ) (3,000 )
NET ASSETS 407,725 123,595

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 406,725 122,595
407,725 123,595

Momentum Utility Services Limited (Registered number: 11146104)

Balance Sheet - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





R H D Wynne - Director


Momentum Utility Services Limited (Registered number: 11146104)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% straight line
Computer equipment - 33% - 50% straight line

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

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 91 (2023 - 51 ) .

Momentum Utility Services Limited (Registered number: 11146104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 February 2023 36,311 7,253 43,564
Additions 61,957 1,110 63,067
At 31 January 2024 98,268 8,363 106,631
DEPRECIATION
At 1 February 2023 24,010 7,253 31,263
Charge for year 18,716 486 19,202
At 31 January 2024 42,726 7,739 50,465
NET BOOK VALUE
At 31 January 2024 55,542 624 56,166
At 31 January 2023 12,301 - 12,301

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,137,545 633,760
Other debtors & prepayments 17,750 15,500
1,155,295 649,260

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loan 44,525 42,266
Trade creditors 227,494 172,096
Taxes & social security costs 694,961 284,268
Other creditors & accruals 263,138 126,130
1,230,118 624,760

The bank loan is secured.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£ £
Bank loan 60,008 104,602

Momentum Utility Services Limited (Registered number: 11146104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan is secured.