Company Registration No. NI643048 (Northern Ireland)
MCB Power Services Limited
Unaudited accounts
for the year ended 31 March 2023
MCB Power Services Limited
Unaudited accounts
Contents
MCB Power Services Limited
Company Information
for the year ended 31 March 2023
Company Number
NI643048 (Northern Ireland)
Registered Office
177 MAIN ROAD
NEWTOWNARDS
BT22 1DA
NORTHERN IRELAND
Accountants
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
MCB Power Services Limited
Accountants' report
Accountants' report to the director of MCB Power Services Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
MCB Power Services Limited for the year ended
31 March 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of MCB Power Services Limited, as a body, in accordance with the terms of our engagement letter dated 1 April 2021. Our work has been undertaken solely to prepare for your approval the accounts of MCB Power Services Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MCB Power Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MCB Power Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MCB Power Services Limited. You consider that MCB Power Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MCB Power Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
13 October 2023
MCB Power Services Limited
Statement of financial position
as at 31 March 2023
Tangible assets
66,149
25,054
Cash at bank and in hand
51,111
41,464
Creditors: amounts falling due within one year
(16,676)
(21,176)
Net current assets
190,205
216,429
Net assets
256,354
241,483
Profit and loss account
256,354
241,483
Shareholders' funds
256,354
241,483
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
Adrian McBride
Director
Company Registration No. NI643048
MCB Power Services Limited
Notes to the Accounts
for the year ended 31 March 2023
MCB Power Services Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI643048. The registered office is 177 MAIN ROAD, NEWTOWNARDS, BT22 1DA, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
20% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Other tangible fixed assets
25% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
MCB Power Services Limited
Notes to the Accounts
for the year ended 31 March 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
1,397
30,008
31,405
Additions
25,996
33,435
59,431
At 31 March 2023
27,393
63,443
90,836
At 1 April 2022
349
6,002
6,351
Charge for the year
6,848
11,488
18,336
At 31 March 2023
7,197
17,490
24,687
At 31 March 2023
20,196
45,953
66,149
At 31 March 2022
1,048
24,006
25,054
Amounts falling due within one year
Trade debtors
142,133
208,944
Amounts due from group undertakings etc.
10,005
-
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
3,807
3,807
Taxes and social security
11,935
-
Loans from directors
484
-
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).