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Company Registration No. 13229268 (England and Wales)
Makim Electrical Limited Unaudited accounts for the year ended 29 February 2024
Makim Electrical Limited Unaudited accounts Contents
Page
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Makim Electrical Limited Company Information for the year ended 29 February 2024
Director
Samuel Makim
Company Number
13229268 (England and Wales)
Registered Office
HALLIDAYS FARM MOSS LANE BILSBORROW PRESTON PR3 0RU ENGLAND
Accountants
Walling Accountants Unit 1B Hallidays Farm Bilsborrow Preston PR3 0RU
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Makim Electrical Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,099 
17,521 
Current assets
Inventories
5,000 
3,000 
Debtors
11,448 
12,766 
Cash at bank and in hand
24,069 
11,368 
40,517 
27,134 
Creditors: amounts falling due within one year
(46,227)
(34,057)
Net current liabilities
(5,710)
(6,923)
Total assets less current liabilities
7,389 
10,598 
Creditors: amounts falling due after more than one year
- 
(2,674)
Provisions for liabilities
Deferred tax
(674)
(613)
Net assets
6,715 
7,311 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
6,615 
7,211 
Shareholders' funds
6,715 
7,311 
For the year ending 29 February 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 October 2024 and were signed on its behalf by
Samuel Makim Director Company Registration No. 13229268
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Makim Electrical Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Makim Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 13229268. The registered office is HALLIDAYS FARM MOSS LANE, BILSBORROW, PRESTON, PR3 0RU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Makim Electrical Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
416 
24,430 
1,289 
26,135 
At 29 February 2024
416 
24,430 
1,289 
26,135 
Depreciation
At 1 March 2023
164 
8,016 
434 
8,614 
Charge for the year
104 
4,104 
214 
4,422 
At 29 February 2024
268 
12,120 
648 
13,036 
Net book value
At 29 February 2024
148 
12,310 
641 
13,099 
At 28 February 2023
252 
16,414 
855 
17,521 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,349 
- 
Trade debtors
7,258 
10,969 
Accrued income and prepayments
841 
736 
Other debtors
- 
1,061 
11,448 
12,766 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
572 
Obligations under finance leases and hire purchase contracts
2,674 
4,119 
Trade creditors
35,682 
12,118 
Taxes and social security
483 
264 
Loans from directors
7,388 
16,984 
46,227 
34,057 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
2,674 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Makim Electrical Limited Notes to the Accounts for the year ended 29 February 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Samuel Makim
Director's current account
16,984 
15,404 
25,000 
7,388 
16,984 
15,404 
25,000 
7,388 
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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