MG Electrical Contractors Limited |
Registered Number:04945119 |
For the year ended 31 October 2024
England and Wales
Unaudited Financial Statements
MG Electrical Contractors Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
19,998
26,460
3
19,998
26,460
15,000
20,000
4
Trade and other receivables |
52,767
40,888
5
886
Cash and cash equivalents |
7,825
68,713
68,653
Trade and other payables: amounts falling due within one |
year |
(38,514)
(39,874)
6
30,139
28,839
Net current assets
Total assets less current liabilities |
48,837
56,599
Trade and other payables: amounts falling due after more |
than one year |
(8,750)
(3,750)
7
45,087
Net assets
47,849
2
2
45,085
47,847
45,087
47,849
Shareholders' funds
For the year ended 31 October 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 of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 05 March 2025 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 October 2024
MG Electrical Contractors Limited
Notes to the Financial Statements
Statutory Information
MG Electrical Contractors Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 04945119. |
11 Spring Street
Slaithwaite
Huddersfield
HD7 5HN
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover represents amounts receivable for services. Amounts receivable for services performed over time are based upon the stage of completion of the services performed. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 5 years. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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For the year ended 31 October 2024
MG Electrical Contractors Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
20,000
20,000
20,000
20,000
-
-
3. Property, plant and equipment |
Motor vehicles
47,916
39,105
8,811
8,811
39,105
47,916
Provision for depreciation and impairment |
21,456
14,172
7,284
Charge for year
6,462
6,233
229
27,918
20,405
7,513
1,298
18,700
19,998
1,527
24,933
26,460
2023
2024
20,000
15,000
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For the year ended 31 October 2024
MG Electrical Contractors Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2023
2024
27,863
38,723
Prepayments and accrued income |
2,072
1,396
Taxation and social security |
10,953
12,648
52,767
40,888
6. Trade and other payables: amounts falling due within one year |
2023
2024
5,000
5,000
Taxation and social security |
1,615
-
Accruals and deferred income |
4,318
2,757
28,941
30,757
39,874
38,514
7. Trade and other payables: amounts falling due after more than one year |
2023
2024
3,750
8,750
8. Average number of persons employed |
During the year the average number of employees was 4 (2023 : 4)
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