Registered number
11447333
MJB Electrical Contractors Ltd
Filleted Accounts
31 July 2024
MJB Electrical Contractors Ltd
Registered number: 11447333
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 70,942 55,172
Current assets
Stocks 10,661 17,040
Debtors 5 29,434 31,335
Cash at bank and in hand 11,459 11,120
51,554 59,495
Creditors: amounts falling due within one year 6 (41,179) (40,143)
Net current assets 10,375 19,352
Total assets less current liabilities 81,317 74,524
Creditors: amounts falling due after more than one year 7 (81,147) (70,680)
Net assets 170 3,844
Capital and reserves
Called up share capital 10 10
Profit and loss account 160 3,834
Shareholder's funds 170 3,844
The director is 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 director acknowledges his 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 J Brown
Director
Approved by the board on 23 December 2024
MJB Electrical Contractors Ltd
Notes to the Accounts
for the year ended 31 July 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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.
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 8 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 10,787
At 31 July 2024 10,787
Amortisation
At 1 August 2023 10,787
At 31 July 2024 10,787
Net book value
At 31 July 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 3,186 79,348 82,534
Additions - 33,334 33,334
Disposals - (4,100) (4,100)
At 31 July 2024 3,186 108,582 111,768
Depreciation
At 1 August 2023 1,716 25,646 27,362
Charge for the year 386 15,881 16,267
On disposals - (2,803) (2,803)
At 31 July 2024 2,102 38,724 40,826
Net book value
At 31 July 2024 1,084 69,858 70,942
At 31 July 2023 1,470 53,702 55,172
5 Debtors 2024 2023
£ £
Trade debtors 23,434 25,335
Other debtors 6,000 6,000
29,434 31,335
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 185
Obligations under finance lease and hire purchase contracts 1,499 1,499
Trade creditors 13,215 14,697
Taxation and social security costs 5,372 9,988
Other creditors 21,093 13,774
41,179 40,143
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,014 21,125
Obligations under finance lease and hire purchase contracts 67,133 49,555
81,147 70,680
8 Other information
MJB Electrical Contractors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Temperance House
Langdon Lane
Radway
Warwickshire
CV35 0UQ
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