M B Electrical Contractors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04141841 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 January 2016

for

M B Electrical Contractors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr M Batty

SECRETARY:

Mrs S Batty

REGISTERED OFFICE:

The Mill

Station Road

Wigton

Cumbria

CA7 9BA

REGISTERED NUMBER:

04141841 (England and Wales)

ACCOUNTANTS:

Marrs Benson

Chartered Accountants

The Mill

Station Road

Wigton

Cumbria

CA7 9BA

FIXED ASSETS

Tangible assets

2

280,527

283,742

CURRENT ASSETS

Stocks

320

Debtors

30,959

21,982

Cash at bank

2,657

-

33,936

22,302

CREDITORS

Amounts falling due within one year

110,689

150,425

NET CURRENT LIABILITIES

(76,753

)

(128,123

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

203,774

155,619

CREDITORS

Amounts falling due after more than one
year

(50,990

)

(63,273

)

PROVISIONS FOR LIABILITIES

(3,829

)

(806

)

NET ASSETS

148,955

91,540

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

148,954

91,539

SHAREHOLDERS' FUNDS

148,955

91,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 September 2016 and were signed by:

Mr M Batty - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

308,328

Additions

2,607

Disposals

(1,000

)

At 31 January 2016

309,935

DEPRECIATION

At 1 February 2015

24,586

Charge for year

4,822

At 31 January 2016

29,408

NET BOOK VALUE

At 31 January 2016

280,527

At 31 January 2015

283,742

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

1

Ordinary

£1

1

4.	CONTROLLING PARTY

The company was under the control of Mr M Batty, Director, throughout the period as he owns 100% of the

issued share capital.

5.	RELATED PARTY TRANSACTIONS

Mr M Batty, Director, has loaned the company money. This is reflected in a Directors Loan account and at the

balance sheet date, the amount due to Mr M Batty was £68,206 (2015 - £99,633). This is included in other

creditors.

During the year, the company rented land and buildings at Blackwood Road, Lillyhall Industrial Estate,

Workington, CA14 4JW for an annual rent of £6,000 per annum. This property is owned personally by Mr M

Batty, Director. A lease was signed between Mr Batty and the company on 10th September 2010 for a term of

15 years. Under the terms of the lease, the rent can be reviewed to a market value rent on every third anniversary

of the start of the lease term.

There were no other related party transactions during the year.