Martin Leeds Electrical Services Ltd Filleted accounts for Companies House (small and micro)

MARTIN LEEDS ELECTRICAL SERVICES LTD - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 40,000 40,000 xbrli:pure xbrli:shares iso4217:GBP 07174257 2022-04-01 2023-03-31 07174257 2023-03-31 07174257 2022-03-31 07174257 2021-04-01 2022-03-31 07174257 2022-03-31 07174257 core:NetGoodwill 2022-04-01 2023-03-31 07174257 core:PlantMachinery 2022-04-01 2023-03-31 07174257 core:MotorVehicles 2022-04-01 2023-03-31 07174257 bus:Director1 2022-04-01 2023-03-31 07174257 core:NetGoodwill 2023-03-31 07174257 core:PlantMachinery 2022-03-31 07174257 core:MotorVehicles 2022-03-31 07174257 core:PlantMachinery 2023-03-31 07174257 core:MotorVehicles 2023-03-31 07174257 core:WithinOneYear 2023-03-31 07174257 core:WithinOneYear 2022-03-31 07174257 core:AfterOneYear 2023-03-31 07174257 core:AfterOneYear 2022-03-31 07174257 core:ShareCapital 2023-03-31 07174257 core:ShareCapital 2022-03-31 07174257 core:RetainedEarningsAccumulatedLosses 2023-03-31 07174257 core:RetainedEarningsAccumulatedLosses 2022-03-31 07174257 core:PlantMachinery 2022-03-31 07174257 core:MotorVehicles 2022-03-31 07174257 bus:SmallEntities 2022-04-01 2023-03-31 07174257 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07174257 bus:FullAccounts 2022-04-01 2023-03-31 07174257 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07174257 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07174257 core:OfficeEquipment 2022-04-01 2023-03-31 07174257 core:OfficeEquipment 2022-03-31 07174257 core:OfficeEquipment 2023-03-31

COMPANY REGISTRATION NUMBER: 07174257

Martin Leeds Electrical Services Ltd

Filleted Unaudited Financial Statements

31 March 2023

Martin Leeds Electrical Services Ltd

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	6		12,462	18,636

Current assets

Stocks		1,666	1,702
Debtors	7	3,051	5,624
Cash at bank and in hand		19,194	9,359
		--------	--------
		23,911	16,685

Creditors: amounts falling due within one year	8	9,151		4,768
		--------		--------
Net current assets			14,760	11,917
			--------	--------
Total assets less current liabilities			27,222	30,553

Creditors: amounts falling due after more than one year	9	5,439	8,872
		--------	--------
Net assets		21,783	21,681
		--------	--------

Capital and reserves

Called up share capital	10	10
Profit and loss account	21,773	21,671
	--------	--------
Shareholders funds	21,783	21,681
	--------	--------

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.

For the year ending 31 March 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Martin Leeds Electrical Services Ltd

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 15 December 2023 , and are signed on behalf of the board by:

Mr M Leeds
Director

Company registration number: 07174257

Martin Leeds Electrical Services Ltd

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45 Vale Street, Denbigh, Denbighshire, LL16 3AH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

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.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Plant & Machinery	-	25% straight line
Motor Vehicles	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2022: 1 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2022 and 31 March 2023	40,000
	--------
Amortisation
At 1 April 2022 and 31 March 2023	40,000
	--------
Carrying amount
At 31 March 2023	–
	--------
At 31 March 2022	–
	--------

6. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2022	5,843	23,880	3,783	33,506
Additions	200	–	–	200
	-------	--------	-------	--------
At 31 March 2023	6,043	23,880	3,783	33,706
	-------	--------	-------	--------
Depreciation
At 1 April 2022	5,425	5,970	3,475	14,870
Charge for the year	302	5,970	102	6,374
	-------	--------	-------	--------
At 31 March 2023	5,727	11,940	3,577	21,244
	-------	--------	-------	--------
Carrying amount
At 31 March 2023	316	11,940	206	12,462
	-------	--------	-------	--------
At 31 March 2022	418	17,910	308	18,636
	-------	--------	-------	--------

7. Debtors

	2023	2022
	£	£
Trade debtors	3,051	5,624
	-------	-------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	144	232
Trade creditors	3,302	2,951
Corporation tax	4,301	526
Social security and other taxes	299	27
Other creditors	1,105	1,032
	-------	-------
	9,151	4,768
	-------	-------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	5,439	8,872
	-------	-------

10. Director's advances, credits and guarantees

No advances, credits or guarantees were given to the Director during the current or previous financial periods.

11. Related party transactions

The company was under the control of Mr Leeds throughout the current and previous year. Mr Leeds is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.