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REGISTERED NUMBER: SC619786 (Scotland)











































Michael Purves Electrician Ltd

Unaudited Financial Statements

for the Year Ended 31st January 2023






Michael Purves Electrician Ltd (Registered number: SC619786)






Contents of the Financial Statements
for the year ended 31st January 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Michael Purves Electrician Ltd

Company Information
for the year ended 31st January 2023







Director: M R A Purves





Registered office: 18 Highcroft
Kelso
Scottish Borders
United Kingdom
TD5 7ND





Registered number: SC619786 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Michael Purves Electrician Ltd (Registered number: SC619786)

Balance Sheet
31st January 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 600 15,169

Current assets
Debtors 5 2,420 26,378
Cash at bank - 4,953
2,420 31,331
Creditors
Amounts falling due within one year 6 7,251 19,867
Net current (liabilities)/assets (4,831 ) 11,464
Total assets less current liabilities (4,231 ) 26,633

Creditors
Amounts falling due after more than one
year

7

-

(8,250

)

Provisions for liabilities - (2,882 )
Net (liabilities)/assets (4,231 ) 15,501

Capital and reserves
Called up share capital 1 1
Retained earnings (4,232 ) 15,500
(4,231 ) 15,501

Michael Purves Electrician Ltd (Registered number: SC619786)

Balance Sheet - continued
31st January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th October 2023 and were signed by:





M R A Purves - Director


Michael Purves Electrician Ltd (Registered number: SC619786)

Notes to the Financial Statements
for the year ended 31st January 2023

1. Statutory information

Michael Purves Electrician Ltd is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost and 15% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - bank overdraft, trade debtors, trade creditors, accruals, hire purchase contracts and directors' loans.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Michael Purves Electrician Ltd (Registered number: SC619786)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

2. Accounting policies - continued
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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1st February 2022 1,213 16,144 1,336 18,693
Disposals - (16,144 ) (924 ) (17,068 )
At 31st January 2023 1,213 - 412 1,625
Depreciation
At 1st February 2022 458 2,172 894 3,524
Charge for year 155 (2,172 ) (482 ) (2,499 )
At 31st January 2023 613 - 412 1,025
Net book value
At 31st January 2023 600 - - 600
At 31st January 2022 755 13,972 442 15,169

Michael Purves Electrician Ltd (Registered number: SC619786)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors - 10,859
Other debtors 2,420 15,519
2,420 26,378

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 319 -
Hire purchase contracts - 2,740
Trade creditors 232 4,826
Taxation and social security 2,439 6,016
Other creditors 4,261 6,285
7,251 19,867

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts - 8,250

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 10,990

Hire purchase contracts are secured against the assets to which they relate.

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st January 2023 and 31st January 2022:

2023 2022
£    £   
M R A Purves
Balance outstanding at start of year 13,528 (313 )
Amounts advanced 13,139 33,047
Amounts repaid (25,840 ) (19,206 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 827 13,528

Michael Purves Electrician Ltd (Registered number: SC619786)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

10. Post balance sheet events

The company has ceased trading and it is the director's intention to have the company either struck off or liquidated.