Registered number
09530925
Melvin John Electrical Contracting Ltd
Filleted Accounts
30 April 2024
Melvin John Electrical Contracting Ltd
Registered number: 09530925
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 76,241 41,004
Current assets
Stocks 3,000 1,500
Debtors 4 101,922 145,953
Cash at bank and in hand 59,336 60,195
164,258 207,648
Creditors: amounts falling due within one year 5 (74,613) (100,966)
Net current assets 89,645 106,682
Total assets less current liabilities 165,886 147,686
Creditors: amounts falling due after more than one year 6 (31,415) -
Provisions for liabilities (19,561) (10,082)
Net assets 114,910 137,604
Capital and reserves
Called up share capital 220 100
Profit and loss account 114,690 137,504
Shareholder's funds 114,910 137,604
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
M L John
Director
Approved by the board on 14 January 2025
Melvin John Electrical Contracting Ltd
Notes to the Accounts
for the year ended 30 April 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 etc 25% on reducing balance
Motor vehicles 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 53,868 57,364 111,232
Additions 900 45,595 46,495
At 30 April 2024 54,768 102,959 157,727
Depreciation
At 1 May 2023 27,115 43,113 70,228
Charge for the year 6,745 4,513 11,258
At 30 April 2024 33,860 47,626 81,486
Net book value
At 30 April 2024 20,908 55,333 76,241
At 30 April 2023 26,753 14,251 41,004
4 Debtors 2024 2023
£ £
Trade debtors 58,801 119,599
Other debtors 43,121 26,354
101,922 145,953
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 14,591 -
Trade creditors 32,152 34,479
Taxation and social security costs 19,777 45,832
Other creditors 8,093 20,655
74,613 100,966
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 31,415 -
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 2,600 2,600
8 Other information
Melvin John Electrical Contracting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Mount Pleasant, Coopers Road
The Lanes, Christchurch
Coleford
Gloucestershire
GL16 7AL
Melvin John Electrical Contracting Ltd 09530925 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts October 2023 M L John No description of principal activity 09530925 2022-05-01 2023-04-30 09530925 core:WithinOneYear 2023-04-30 09530925 core:AfterOneYear 2023-04-30 09530925 core:ShareCapital 2023-04-30 09530925 core:RetainedEarningsAccumulatedLosses 2023-04-30 09530925 core:AllPeriods 2023-04-30 09530925 2023-05-01 2024-04-30 09530925 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09530925 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09530925 bus:Director40 2023-05-01 2024-04-30 09530925 1 2023-05-01 2024-04-30 09530925 2 2023-05-01 2024-04-30 09530925 core:PlantMachinery 2023-05-01 2024-04-30 09530925 core:Vehicles 2023-05-01 2024-04-30 09530925 countries:England 2023-05-01 2024-04-30 09530925 bus:FRS102 2023-05-01 2024-04-30 09530925 bus:FullAccounts 2023-05-01 2024-04-30 09530925 2024-04-30 09530925 core:WithinOneYear 2024-04-30 09530925 core:AfterOneYear 2024-04-30 09530925 core:ShareCapital 2024-04-30 09530925 core:RetainedEarningsAccumulatedLosses 2024-04-30 09530925 core:PlantMachinery 2024-04-30 09530925 core:Vehicles 2024-04-30 09530925 core:AllPeriods 2024-04-30 09530925 2023-04-30 09530925 core:PlantMachinery 2023-04-30 09530925 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure