Company Registration No. 07998119 (England and Wales)
M.L.B. Electrical Contractors Limited
Unaudited accounts
for the year ended 31 March 2019
M.L.B. Electrical Contractors Limited
Unaudited accounts
Contents
M.L.B. Electrical Contractors Limited
Company Information
for the year ended 31 March 2019
Company Number
07998119 (England and Wales)
Registered Office
FIRST FLOOR AUDIT HOUSE
151 HIGH STREET
BILLERICAY
ESSEX
CM12 9AB
Accountants
First Call Accounting Ltd
1st Floor Audit House
151 High Street
Billericay
Essex
CM12 9AB
M.L.B. Electrical Contractors Limited
Statement of financial position
as at 31 March 2019
Tangible assets
12,367
8,701
Cash at bank and in hand
11,215
(11,147)
Creditors: amounts falling due within one year
(17,253)
(18,998)
Net current liabilities
(1,084)
(6,828)
Total assets less current liabilities
11,283
1,873
Creditors: amounts falling due after more than one year
(6,241)
-
Provisions for liabilities
Deferred tax
(2,371)
(1,653)
Called up share capital
100
100
Profit and loss account
2,571
120
Shareholders' funds
2,671
220
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 November 2019.
Mark Bailey
Director
Company Registration No. 07998119
M.L.B. Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 March 2019
M.L.B. Electrical Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 07998119. The registered office is FIRST FLOOR AUDIT HOUSE, 151 HIGH STREET, BILLERICAY, ESSEX, CM12 9AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
Fixtures & fittings
25% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
M.L.B. Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2018
16,363
2,798
19,161
Disposals
(9,698)
-
(9,698)
At 31 March 2019
18,550
2,798
21,348
At 1 April 2018
7,986
2,474
10,460
Charge for the year
3,060
193
3,253
On disposals
(4,732)
-
(4,732)
At 31 March 2019
6,314
2,667
8,981
At 31 March 2019
12,236
131
12,367
At 31 March 2018
8,377
324
8,701
Trade debtors
4,954
13,285
6
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
2,186
3,160
Trade creditors
3,922
8,810
Taxes and social security
9,272
3,733
7
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
6,241
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Mark Bailey Directors Loan
12,062
28,931
40,993
-
M.L.B. Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 March 2019
9
Average number of employees
During the year the average number of employees was 2 (2018: 2).
