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Registered number: 12969398
Mercia Electrical Ltd
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12969398
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 65,053 29,784
65,053 29,784
CURRENT ASSETS
Stocks 5 36,000 36,000
Debtors 6 445,692 123,202
Cash at bank and in hand 101,046 76,481
582,738 235,683
Creditors: Amounts Falling Due Within One Year 7 (479,544 ) (145,605 )
NET CURRENT ASSETS (LIABILITIES) 103,194 90,078
TOTAL ASSETS LESS CURRENT LIABILITIES 168,247 119,862
Creditors: Amounts Falling Due After More Than One Year 8 (61,048 ) (32,864 )
NET ASSETS 107,199 86,998
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 107,099 86,898
SHAREHOLDERS' FUNDS 107,199 86,998
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M W Ede
Director
24 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mercia Electrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12969398 . The registered office is Unit 6, Grassy Court, Etwall Road, Mickleover, Derby, DE3 0BX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% straight line
Computer Equipment 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 9)
12 9
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 57,345 2,224 59,569
Additions 55,995 - 55,995
As at 30 November 2024 113,340 2,224 115,564
Depreciation
As at 1 December 2023 28,673 1,112 29,785
Provided during the period 20,170 556 20,726
As at 30 November 2024 48,843 1,668 50,511
Net Book Value
As at 30 November 2024 64,497 556 65,053
As at 1 December 2023 28,672 1,112 29,784
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
5. Stocks
2024 2023
£ £
Stock 36,000 36,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 361,692 97,483
Prepayments and accrued income 726 -
Other debtors 16,977 -
Corporation tax recoverable assets 25 16
VAT 66,272 25,703
445,692 123,202
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,711 10,884
Trade creditors 380,921 9,604
Corporation tax 17,456 33,080
Other taxes and social security 23,640 2,239
Other creditors 28,031 1,033
Accruals and deferred income 2,749 4,100
Director's loan account 7,036 84,665
479,544 145,605
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 61,048 32,864
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,711 10,884
Later than one year and not later than five years 61,048 32,864
80,759 43,748
80,759 43,748
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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