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Company registration number: 07998119
M.L.B. Electrical Contractors Ltd
Unaudited filleted financial statements
31 March 2025
M.L.B. Electrical Contractors Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
M.L.B. Electrical Contractors Ltd
Directors and other information
Director Mr Mark Bailey
Company number 07998119
Registered office 83 High Street
Hemel Hempstead
Hertfordshire
HP1 3AH
Business address 232 Fennycroft
Gadebridge
Hemel Hempstead
Hertfordshire
HP1 3NP
Accountants Hicks and Company
Chartered Accountants and Tax Specialists
83 High Street
Hemel Hempstead
Hertfordshire
HP1 3AH
M.L.B. Electrical Contractors Ltd
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 16,098 20,837
_______ _______
16,098 20,837
Current assets
Debtors 6 10,588 50,621
Cash at bank and in hand 66,020 74,514
_______ _______
76,608 125,135
Creditors: amounts falling due
within one year 7 ( 33,122) ( 62,003)
_______ _______
Net current assets 43,486 63,132
_______ _______
Total assets less current liabilities 59,584 83,969
Creditors: amounts falling due
after more than one year 8 ( 3,430) -
Provisions for liabilities ( 3,059) ( 2,095)
_______ _______
Net assets 53,095 81,874
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 52,995 81,774
_______ _______
Shareholders funds 53,095 81,874
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
Mr Mark Bailey
Director
Company registration number: 07998119
M.L.B. Electrical Contractors Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 83 High Street, Hemel Hempstead, Hertfordshire, HP1 3AH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 623 2,798 28,383 31,804
Additions 550 - - 550
_______ _______ _______ _______
At 31 March 2025 1,173 2,798 28,383 32,354
_______ _______ _______ _______
Depreciation
At 1 April 2024 2 2,798 8,167 10,967
Charge for the year 235 - 5,054 5,289
_______ _______ _______ _______
At 31 March 2025 237 2,798 13,221 16,256
_______ _______ _______ _______
Carrying amount
At 31 March 2025 936 - 15,162 16,098
_______ _______ _______ _______
At 31 March 2024 621 - 20,216 20,837
_______ _______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 10,374 50,621
Other debtors 214 -
_______ _______
10,588 50,621
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 9,159 8,699
Corporation tax 15,927 24,481
Social security and other taxes 3,092 8,787
Other creditors 4,944 20,036
_______ _______
33,122 62,003
_______ _______
8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 3,430 -
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Mark Bailey ( 4,820) ( 7,542) 12,170 ( 192)
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Mark Bailey - ( 4,820) - ( 4,820)
_______ _______ _______ _______