Registered number
10276185
MCT Electrical Services Ltd
Filleted Accounts
31 July 2024
MCT Electrical Services Ltd
Registered number: 10276185
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 295,933 222,297
Current assets
Debtors 4 449,596 390,275
Cash at bank and in hand 41,094 160,140
490,690 550,415
Creditors: amounts falling due within one year 5 (352,883) (437,182)
Net current assets 137,807 113,233
Total assets less current liabilities 433,740 335,530
Creditors: amounts falling due after more than one year 6 (205,764) (142,043)
Provisions for liabilities (54,514) (46,567)
Net assets 173,462 146,920
Capital and reserves
Called up share capital 10 10
Profit and loss account 173,452 146,910
Shareholders' funds 173,462 146,920
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 members have 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.
Mr O McTaggart
Director
Approved by the board on 8 April 2025
MCT Electrical Services 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.
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:
Motor vehicles 25% reducing balance
Computer Equipment over 4 years
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% 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.
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.
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 18 15
3 Tangible fixed assets
Improvements to Property Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 - 37,547 339,913 377,460
Additions 5,150 12,548 150,489 168,187
Disposals - (2,231) (46,781) (49,012)
At 31 July 2024 5,150 47,864 443,621 496,635
Depreciation
At 1 August 2023 - 16,929 138,234 155,163
Charge for the year - 5,718 69,446 75,164
On disposals - (2,231) (27,394) (29,625)
At 31 July 2024 - 20,416 180,286 200,702
Net book value
At 31 July 2024 5,150 27,448 263,335 295,933
At 31 July 2023 - 20,618 201,679 222,297
4 Debtors 2024 2023
£ £
Trade debtors 426,814 272,043
Other debtors 22,782 118,232
449,596 390,275
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 64,244 44,610
Trade creditors 107,545 121,260
Taxation and social security costs 145,492 52,871
Other creditors 25,602 208,441
352,883 437,182
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,955 19,078
Obligations under finance lease and hire purchase contracts 195,809 122,965
205,764 142,043
7 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr O McTaggart
Directors Loan Account (59) (521) 780 200
(59) (521) 780 200
8 Controlling party
The company is wholly owned by MCT Facilities Group Limited. MCT Facilities Group Limited is controlled by the director Mr O McTaggart by virtue of his shareholding.
9 Other information
MCT Electrical Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Sidings Industrial Estate
Wetmore Road
Burton on Trent
Staffordshire
DE14 1SB
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