Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07189274 Mrs A Fryer Mr M Fryer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07189274 2023-03-31 07189274 2024-03-31 07189274 2023-04-01 2024-03-31 07189274 frs-core:CurrentFinancialInstruments 2024-03-31 07189274 frs-core:Non-currentFinancialInstruments 2024-03-31 07189274 frs-core:MotorVehicles 2024-03-31 07189274 frs-core:MotorVehicles 2023-04-01 2024-03-31 07189274 frs-core:MotorVehicles 2023-03-31 07189274 frs-core:PlantMachinery 2024-03-31 07189274 frs-core:PlantMachinery 2023-04-01 2024-03-31 07189274 frs-core:PlantMachinery 2023-03-31 07189274 frs-core:ShareCapital 2024-03-31 07189274 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07189274 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07189274 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07189274 frs-bus:SmallEntities 2023-04-01 2024-03-31 07189274 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07189274 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07189274 frs-bus:Director1 2023-04-01 2024-03-31 07189274 frs-bus:Director2 2023-04-01 2024-03-31 07189274 frs-countries:EnglandWales 2023-04-01 2024-03-31 07189274 2022-03-31 07189274 2023-03-31 07189274 2022-04-01 2023-03-31 07189274 frs-core:CurrentFinancialInstruments 2023-03-31 07189274 frs-core:Non-currentFinancialInstruments 2023-03-31 07189274 frs-core:WithinOneYear 2023-03-31 07189274 frs-core:ShareCapital 2023-03-31 07189274 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07189274
M J Electrical Engineering Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07189274
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,148 30,504
Investment Properties 5 426,546 393,673
452,694 424,177
CURRENT ASSETS
Stocks 6 24,509 19,572
Debtors 7 92,141 100,091
Cash at bank and in hand 83,129 96,630
199,779 216,293
Creditors: Amounts Falling Due Within One Year 8 (125,007 ) (108,840 )
NET CURRENT ASSETS (LIABILITIES) 74,772 107,453
TOTAL ASSETS LESS CURRENT LIABILITIES 527,466 531,630
Creditors: Amounts Falling Due After More Than One Year 9 (138,900 ) (180,384 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,756 ) (4,318 )
NET ASSETS 373,810 346,928
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 373,710 346,828
SHAREHOLDERS' FUNDS 373,810 346,928
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Fryer
Director
5 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
M J Electrical Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07189274 . The registered office is 14 Rosebery Road, Aston Clinton, Aylesbury, Bucks, HP22 5JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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% reducing balance
Motor Vehicles 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost or Valuation
As at 1 April 2023 22,855 94,412 117,267
Additions 1,517 11,990 13,507
Disposals (882 ) (11,500 ) (12,382 )
As at 31 March 2024 23,490 94,902 118,392
Depreciation
As at 1 April 2023 17,263 69,500 86,763
Provided during the period 1,722 14,770 16,492
Disposals (662 ) (10,349 ) (11,011 )
As at 31 March 2024 18,323 73,921 92,244
Net Book Value
As at 31 March 2024 5,167 20,981 26,148
As at 1 April 2023 5,592 24,912 30,504
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5. Investment Property
2024
£
Fair Value
As at 1 April 2023 393,673
Revaluations 32,873
As at 31 March 2024 426,546
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 393,673 393,673
6. Stocks
2024 2023
£ £
Stock 24,509 19,572
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 80,567 76,396
Other debtors 11,574 23,695
92,141 100,091
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 33,282 20,399
Bank loans and overdrafts 29,850 29,964
Other creditors 11,575 19,162
Taxation and social security 50,300 39,315
125,007 108,840
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 138,900 180,384
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10. Secured Creditors
The following charges have been registered at Companies House:
  1. Lloyds Bank PLC: In relation to Unit 9 Stanley Court, a fixed and floating charge and a negative pledge.
  2. Lloyds Bank PLC: In relation to Unit 6 Townsend Peice, a fixed and floating charge and a negative pledge.
2024 2023
£ £
Bank loans and overdrafts 122,265 142,409
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 6,552
- 6,552
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