2023-11-072024-10-312024-10-31false15268104MHE ELECTRICAL 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MHE ELECTRICAL LTD

Registered Number
15268104
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2024

MHE ELECTRICAL LTD
Company Information
for the period from 7 November 2023 to 31 October 2024

Directors

Philip Hustler
Russell Lee Morley

Registered Address

41 Basegreen Avenue
Sheffield
S12 3FA

Registered Number

15268104 (England and Wales)
MHE ELECTRICAL LTD
Balance Sheet as at
31 October 2024

Notes

2024

£

£

Fixed assets
Tangible assets3527
527
Current assets
Debtors21,536
Cash at bank and on hand8,549
30,085
Creditors amounts falling due within one year4(25,147)
Net current assets (liabilities)4,938
Total assets less current liabilities5,465
Net assets5,465
Capital and reserves
Called up share capital100
Profit and loss account5,365
Shareholders' funds5,465
The financial statements were approved and authorised for issue by the Board of Directors on 26 November 2024, and are signed on its behalf by:
Russell Lee Morley
Director
Registered Company No. 15268104
MHE ELECTRICAL LTD
Notes to the Financial Statements
for the period ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from rendering of services
Revenue 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Trade and other 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.
Trade and other 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.
2.Average number of employees

2024
Average number of employees during the year2
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions542542
At 31 October 24542542
Depreciation and impairment
Charge for year1515
At 31 October 241515
Net book value
At 31 October 24527527
At 06 November 23--
4.Creditors: amounts due within one year

2024

£
Taxation and social security4,433
Other creditors20,714
Total25,147