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COMPANY REGISTRATION NUMBER: 09537119
MB Electrical (Bedford) Limited
Filleted Unaudited Financial Statements
28 June 2024
MB Electrical (Bedford) Limited
Statement of Financial Position
28 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
4,651
Current assets
Debtors
6
20,308
27,622
Cash at bank and in hand
4,690
1
--------
--------
24,998
27,623
Creditors: amounts falling due within one year
7
17,977
21,781
--------
--------
Net current assets
7,021
5,842
-------
--------
Total assets less current liabilities
7,021
10,493
Creditors: amounts falling due after more than one year
8
5,950
10,076
-------
--------
Net assets
1,071
417
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
971
317
-------
----
Shareholders funds
1,071
417
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MB Electrical (Bedford) Limited
Statement of Financial Position (continued)
28 June 2024
These financial statements were approved by the board of directors and authorised for issue on 25 January 2025 , and are signed on behalf of the board by:
Mr M Bowyer
Director
Company registration number: 09537119
MB Electrical (Bedford) Limited
Notes to the Financial Statements
Year ended 28 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Motor vehicles
-
25% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 29 June 2023 and 28 June 2024
1,082
18,580
19,662
-------
--------
--------
Depreciation
At 29 June 2023
1,076
13,935
15,011
Charge for the year
6
4,645
4,651
-------
--------
--------
At 28 June 2024
1,082
18,580
19,662
-------
--------
--------
Carrying amount
At 28 June 2024
-------
--------
--------
At 28 June 2023
6
4,645
4,651
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
9,654
12,482
Other debtors
10,654
15,140
--------
--------
20,308
27,622
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,200
5,571
Trade creditors
3,503
Corporation tax
7,110
8,208
Social security and other taxes
3,809
2,399
Other creditors
2,858
2,100
--------
--------
17,977
21,781
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,950
10,076
-------
--------
9. Directors' advances, credits and guarantees
During the year Mr M Bowyer withdrew funds totalling £10,006 and these were repaid to the company before 28 March 2025.