IRIS Accounts Production v25.1.4.42 08698584 director 1.11.23 31.10.24 31.10.24 false true false false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086985842023-10-31086985842024-10-31086985842023-11-012024-10-31086985842022-10-31086985842022-11-012023-10-31086985842023-10-3108698584ns15:EnglandWales2023-11-012024-10-3108698584ns14:PoundSterling2023-11-012024-10-3108698584ns10:Director12023-11-012024-10-3108698584ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3108698584ns10:SmallEntities2023-11-012024-10-3108698584ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3108698584ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3108698584ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3108698584ns10:FullAccounts2023-11-012024-10-310869858412023-11-012024-10-3108698584ns10:OrdinaryShareClass12023-11-012024-10-3108698584ns10:RegisteredOffice2023-11-012024-10-3108698584ns5:CurrentFinancialInstruments2024-10-3108698584ns5:CurrentFinancialInstruments2023-10-3108698584ns5:Non-currentFinancialInstruments2024-10-3108698584ns5:Non-currentFinancialInstruments2023-10-3108698584ns5:ShareCapital2024-10-3108698584ns5:ShareCapital2023-10-3108698584ns5:RetainedEarningsAccumulatedLosses2024-10-3108698584ns5:RetainedEarningsAccumulatedLosses2023-10-3108698584ns5:NetGoodwill2023-11-012024-10-3108698584ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3108698584ns5:PlantMachinery2023-11-012024-10-3108698584ns5:MotorVehicles2023-11-012024-10-3108698584ns5:NetGoodwill2023-10-3108698584ns5:NetGoodwill2024-10-3108698584ns5:NetGoodwill2023-10-3108698584ns5:PlantMachinery2023-10-3108698584ns5:FurnitureFittings2023-10-3108698584ns5:MotorVehicles2023-10-3108698584ns5:FurnitureFittings2023-11-012024-10-3108698584ns5:PlantMachinery2024-10-3108698584ns5:FurnitureFittings2024-10-3108698584ns5:MotorVehicles2024-10-3108698584ns5:PlantMachinery2023-10-3108698584ns5:FurnitureFittings2023-10-3108698584ns5:MotorVehicles2023-10-3108698584ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3108698584ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3108698584ns5:DeferredTaxation2023-10-3108698584ns5:DeferredTaxation2023-11-012024-10-3108698584ns5:DeferredTaxation2024-10-3108698584ns10:OrdinaryShareClass12024-10-31086985841ns10:Director12023-10-31086985841ns10:Director12022-10-31086985841ns10:Director12023-11-012024-10-31086985841ns10:Director12022-11-012023-10-31086985841ns10:Director12024-10-31086985841ns10:Director12023-10-31
REGISTERED NUMBER: 08698584 (England and Wales)















M B Electrical (Bolton) Limited

Unaudited Financial Statements for the Year Ended 31 October 2024






M B Electrical (Bolton) Limited (Registered number: 08698584)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M B Electrical (Bolton) Limited

Company Information
for the Year Ended 31 October 2024







Director: Martin Philip Baker





Registered office: Craven House
32 Lee Lane
Horwich
Bolton
Greater Manchester
BL6 7BY





Registered number: 08698584 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
Greater Manchester
BL6 7BY

M B Electrical (Bolton) Limited (Registered number: 08698584)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 15,000 15,000
Tangible assets 5 26,126 34,710
41,126 49,710

Current assets
Stocks 1,500 1,400
Debtors 6 6,625 10,597
Cash at bank 23,932 16,629
32,057 28,626
Creditors
Amounts falling due within one year 7 31,986 26,155
Net current assets 71 2,471
Total assets less current liabilities 41,197 52,181

Creditors
Amounts falling due after more than one
year

8

(29,666

)

(38,424

)

Provisions for liabilities 9 (4,963 ) (6,594 )
Net assets 6,568 7,163

M B Electrical (Bolton) Limited (Registered number: 08698584)

Statement of Financial Position - continued
31 October 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 100 100
Retained earnings 6,468 7,063
Shareholders' funds 6,568 7,163

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

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

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2025 and were signed by:





Martin Philip Baker - Director


M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. Statutory information

M B Electrical (Bolton) Limited 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.

Turnover
Turnover is measured at fair value of the consideration receivable for electrical services rendered during the year.

Goodwill
Amortisation of goodwill has not been provided by the company as in the opinion of the director it has an indefinite useful economic life. This accounting policy departs from the usual requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirement of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £1,500 and the profit for the year reduced accordingly.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 1 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2023
and 31 October 2024 15,000
Net book value
At 31 October 2024 15,000
At 31 October 2023 15,000

M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 November 2023
and 31 October 2024 760 417 37,386 38,563
Depreciation
At 1 November 2023 719 18 3,116 3,853
Charge for year 8 9 8,567 8,584
At 31 October 2024 727 27 11,683 12,437
Net book value
At 31 October 2024 33 390 25,703 26,126
At 31 October 2023 41 399 34,270 34,710

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 3,521 4,579
Other debtors 3,104 6,018
6,625 10,597

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loan 4,401 4,401
Hire purchase contracts 4,347 4,347
Trade creditors 9,408 6,386
Taxation and social security 11,141 7,658
Other creditors 2,689 3,363
31,986 26,155

M B Electrical (Bolton) Limited (Registered number: 08698584)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 22,430 26,841
Hire purchase contracts 7,236 11,583
29,666 38,424

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 4,963 6,594

Deferred
tax
£   
Balance at 1 November 2023 6,594
Credit to Statement of Income and Retained Earnings during year (1,631 )
Balance at 31 October 2024 4,963

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares 1.00 100 100

11. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Martin Philip Baker
Balance outstanding at start of year 3,764 7,920
Amounts advanced 51,082 38,251
Amounts repaid (54,997 ) (42,407 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (151 ) 3,764