M & K Electrical & Data Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08185177 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH OCTOBER 2022

FOR

M & K ELECTRICAL & DATA LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M T Salmon

REGISTERED OFFICE:

7 Poole Road

Hornchurch

Essex

RM11 3AS

REGISTERED NUMBER:

08185177 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

FIXED ASSETS

Tangible assets

4

19,344

25,858

CURRENT ASSETS

Stocks

-

20,000

Debtors

225,115

318,713

Cash at bank and in hand

45,589

5,364

270,704

344,077

CREDITORS

Amounts falling due within one year

64,698

19,656

NET CURRENT ASSETS

206,006

324,421

TOTAL ASSETS LESS CURRENT LIABILITIES

225,350

350,279

CREDITORS

Amounts falling due after more than one year

(28,633

)

(39,030

)

PROVISIONS FOR LIABILITIES

(3,675

)

(4,913

)

NET ASSETS

193,042

306,336

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

192,942

306,236

SHAREHOLDERS' FUNDS

193,042

306,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th October 2022 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 29th October 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 27th October 2023 and were signed by:

M T Salmon - Director

1.	STATUTORY INFORMATION

M & K Electrical & Data 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the fair value of services provided, excluding value added tax, once the income and related costs incurred can be reliably measured, and it is probable that the economic benefits will flow to the company.

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

-

33% on cost and 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 Statement of Income and Retained Earnings, 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 statement of financial position 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.

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.

Government grants

Following the Covid-19 (Coronavirus) pandemic, the UK government provided a a variety of financial support schemes to support businesses during this difficult time, including government backed loans, furlough schemes and a variety of other packages. The company had obtained a bounce back loan in that period, and interest charges were met by the government in the first period. In accordance with standard practice such grants are recognised as other income when the company has reasonable assurance that the company will comply with the relevant conditions and the grant will be received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 30th October 2021

and 29th October 2022

41,418

DEPRECIATION

At 30th October 2021

15,560

Charge for year

6,514

At 29th October 2022

22,074

NET BOOK VALUE

At 29th October 2022

19,344

At 29th October 2021

25,858

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29th October 2022 and the period ended 29th October 2021:

2022

2021

£

£

M T Salmon

Balance outstanding at start of year

129,438

32,011

Amounts advanced

92,858

129,438

Amounts repaid

(129,438

)

(32,011

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

92,858

129,438

Various amounts were advanced to the director with no variable rate interest charged, with the advance being repayable on demand.

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £110,000 (2021 - £110,000) were paid to the director .