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REGISTERED NUMBER: 04798252 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

M & B ELECTRICAL SERVICES (READING) LTD

M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

M & B ELECTRICAL SERVICES (READING) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: S Morris
D Young





SECRETARIES: S Morris-Goodchild
Mrs J Blunt





REGISTERED OFFICE: The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG





REGISTERED NUMBER: 04798252 (England and Wales)





ACCOUNTANTS: LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG

M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,515 141,595
Investments 5 272,160 252,613
424,675 394,208

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 6 1,141,244 1,010,302
Cash at bank and in hand 923,423 1,037,871
2,065,667 2,049,173
CREDITORS
Amounts falling due within one year 7 494,482 509,895
NET CURRENT ASSETS 1,571,185 1,539,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,995,860

1,933,486

PROVISIONS FOR LIABILITIES 36,368 31,422
NET ASSETS 1,959,492 1,902,064

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,949,492 1,892,064
SHAREHOLDERS' FUNDS 1,959,492 1,902,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)

BALANCE SHEET - continued
31 JULY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:





S Morris - Director


M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

M & B Electrical Services (Reading) LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of good and amounts recoverable on contracts, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 20 ) .

M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 310,720
Additions 67,454
Disposals (9,255 )
At 31 July 2024 368,919
DEPRECIATION
At 1 August 2023 169,125
Charge for year 52,630
Eliminated on disposal (5,351 )
At 31 July 2024 216,404
NET BOOK VALUE
At 31 July 2024 152,515
At 31 July 2023 141,595

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2023 252,613
Revaluations 19,547
At 31 July 2024 272,160
NET BOOK VALUE
At 31 July 2024 272,160
At 31 July 2023 252,613

Cost or valuation at 31 July 2024 is represented by:

Other
investments
£   
Valuation in 2024 272,160

M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 828,627 676,948
Amounts recoverable on contract 93,457 147,343
Other debtors 219,160 186,011
1,141,244 1,010,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,249 3,849
Trade creditors 166,722 157,643
Amounts owed to participating interests 93,338 93,338
Taxation and social security 208,926 214,020
Other creditors 20,247 41,045
494,482 509,895

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 36,000 36,000
Between one and five years 92,053 128,053
128,053 164,053

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
S Morris
Balance outstanding at start of year 105,207 67,716
Amounts advanced 165,685 178,596
Amounts repaid (137,748 ) (141,105 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 133,144 105,207

M & B ELECTRICAL SERVICES (READING) LTD (REGISTERED NUMBER: 04798252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D Young
Balance outstanding at start of year (21,206 ) 565
Amounts advanced 109,774 70,065
Amounts repaid (91,837 ) (91,836 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,269 ) (21,206 )

The overdrawn Director's Loan account was repaid within 9 month of the financial year end. Interest charged on the overdrawn balance is included in other interest received.

10. ULTIMATE CONTROLLING PARTY

The controlling party is S Morris.

The company is ultimately controlled by Mr S Morris, director and shareholder.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
M & B ELECTRICAL SERVICES (READING) LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M & B Electrical Services (Reading) LTD for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of M & B Electrical Services (Reading) LTD, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M & B Electrical Services (Reading) LTD and state those matters that we have agreed to state to the Board of Directors of M & B Electrical Services (Reading) LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M & B Electrical Services (Reading) LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M & B Electrical Services (Reading) LTD. You consider that M & B Electrical Services (Reading) LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M & B Electrical Services (Reading) LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG


14 April 2025