MK Electrical Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09625192 (England and Wales)

Financial Statements for the Year Ended 31 July 2019

for

Mk Electrical Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mr M Musselwhite

Mr S Kelly

REGISTERED OFFICE:

Unit 1 Cross Ways Business Park

Canterbury Road

St Nicholas At Wade

Birchington

Kent

CT7 0PQ

REGISTERED NUMBER:

09625192 (England and Wales)

ACCOUNTANTS:

MPH Accountancy and Business Advisors Ltd

99 Canterbury Road

Whitstable

Kent

CT5 4HG

FIXED ASSETS

Tangible assets

4

64,201

58,944

CURRENT ASSETS

Stocks

173,000

173,000

Debtors

5

226,951

300,121

Cash at bank and in hand

89,774

191,191

489,725

664,312

CREDITORS

Amounts falling due within one year

6

174,236

279,003

NET CURRENT ASSETS

315,489

385,309

TOTAL ASSETS LESS CURRENT LIABILITIES

379,690

444,253

CREDITORS

Amounts falling due after more than one year

7

5,046

2,884

NET ASSETS

374,644

441,369

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

374,544

441,269

SHAREHOLDERS' FUNDS

374,644

441,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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.

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 on 25 November 2019 and were signed on its behalf by:

Mr M Musselwhite - Director

Mr S Kelly - Director

1.	STATUTORY INFORMATION

Mk Electrical Contractors 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 the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

15% on reducing balance and at variable rates on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 20 (2018 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

100,708

Additions

18,476

At 31 July 2019

119,184

DEPRECIATION

At 1 August 2018

41,764

Charge for year

13,219

At 31 July 2019

54,983

NET BOOK VALUE

At 31 July 2019

64,201

At 31 July 2018

58,944

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

226,951

300,121

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

4,047

922

Trade creditors

95,530

146,167

Taxation and social security

66,000

120,453

Other creditors

8,659

11,461

174,236

279,003

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

5,046

2,884

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2019 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

MPH Accountancy and Business Advisors Ltd

99 Canterbury Road

Whitstable

Kent

CT5 4HG

Date: .............................................