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 2018

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:

P H Accountancy Ltd

99 Canterbury Road

Whitstable

Kent

CT5 4HG

FIXED ASSETS

Tangible assets

4

58,944

61,404

CURRENT ASSETS

Stocks

173,000

13,950

Debtors

5

300,121

310,845

Cash at bank and in hand

191,191

214,291

664,312

539,086

CREDITORS

Amounts falling due within one year

6

279,003

281,707

NET CURRENT ASSETS

385,309

257,379

TOTAL ASSETS LESS CURRENT LIABILITIES

444,253

318,783

CREDITORS

Amounts falling due after more than one year

7

2,884

3,806

NET ASSETS

441,369

314,977

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

441,269

314,877

SHAREHOLDERS' FUNDS

441,369

314,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 19 November 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2017

4,054

1,259

82,699

2,801

90,813

Additions

4,613

-

-

5,282

9,895

At 31 July 2018

8,667

1,259

82,699

8,083

100,708

DEPRECIATION

At 1 August 2017

963

278

27,391

777

29,409

Charge for year

1,156

147

9,956

1,096

12,355

At 31 July 2018

2,119

425

37,347

1,873

41,764

NET BOOK VALUE

At 31 July 2018

6,548

834

45,352

6,210

58,944

At 31 July 2017

3,091

981

55,308

2,024

61,404

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

300,121

310,359

Other debtors

-

486

300,121

310,845

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

922

12,171

Trade creditors

146,167

87,982

Taxation and social security

120,453

168,998

Other creditors

11,461

12,556

279,003

281,707

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

2,884

3,806

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 August 2017

314,877

Profit for the year

286,812

Dividends

(160,420

)

At 31 July 2018

441,269

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 2018 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.

P H Accountancy Ltd

99 Canterbury Road

Whitstable

Kent

CT5 4HG

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