M B Electrical Contractors Limited - Accounts to registrar - small 17.1.1
M B Electrical Contractors Limited - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 January 2017 |
| for |
| M B Electrical Contractors Limited |
| M B Electrical Contractors Limited (Registered number: 04141841) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| M B Electrical Contractors Limited |
| Company Information |
| for the Year Ended 31 January 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Mill |
| Station Road |
| Wigton |
| Cumbria |
| CA7 9BA |
| M B Electrical Contractors Limited (Registered number: 04141841) |
| Balance Sheet |
| 31 January 2017 |
| 31.1.17 | 31.1.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| M B Electrical Contractors Limited (Registered number: 04141841) |
| Balance Sheet - continued |
| 31 January 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| M B Electrical Contractors Limited (Registered number: 04141841) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2017 |
| 1. | STATUTORY INFORMATION |
| M B Electrical Contractors Limited is a |
| 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 |
| 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 |
| Plant and machinery | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| M B Electrical Contractors Limited (Registered number: 04141841) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Long | Plant and | Motor |
| leasehold | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2017 |
| DEPRECIATION |
| At 1 February 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Other creditors |
| 8. | SECURED DEBTS |
| The director and shareholder has obtained a mortgage with the Cumberland Building Society, who have a fixed |
| and floating charge over the company assets. |
| M B Electrical Contractors Limited (Registered number: 04141841) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2017 |
| 9. | RELATED PARTY DISCLOSURES |
| 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 £88,625 (2016 - £68,206). 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. |
| 10. | FIRST YEAR ADOPTION |
| This is the first year that the company has presented its financial statements under FRS 102. The last financial |
| statements under the previous UK GAAP were for the year ended 31 January 2016. The date of transition to |
| FRS 102 was 1 February 2015. |
| The accounting policies adopted under the previous UK GAAP were not materially different from those adopted |
| under FRS 102, and consequently profit for the year ended 31 January 2016 and total equity as at 1 February |
| 2015 and 31 January 2016 are the same under FRS 102 as they were under previous UK GAAP. |
| Whilst there has been no impact on the reported result in either the current or previous year, nor on total equity |
| at, or subsequent to, the date of transition, in complying with the requirement of FRS 102 and the accounting |
| policies adopted on transition, certain reclassifications have been made to amounts previously reported. |