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REGISTERED NUMBER: SC393727 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: K Ferguson
Mrs F M Ferguson





REGISTERED OFFICE: Broombank
North Connel
Oban
Argyll
PA37 1RD





REGISTERED NUMBER: SC393727 (Scotland)





ACCOUNTANTS: Andy Newiss & Co Ltd
Broombank
North Connel
Oban
Argyll
PA37 1RD

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 138,558 102,248
138,558 102,248

CURRENT ASSETS
Stocks 106,155 200,211
Debtors 6 186,854 88,099
Cash in hand 142 14
293,151 288,324
CREDITORS
Amounts falling due within one year 7 273,954 255,219
NET CURRENT ASSETS 19,197 33,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,755

135,353

CREDITORS
Amounts falling due after more than one
year

8

(73,359

)

(45,763

)

PROVISIONS FOR LIABILITIES (19,226 ) (10,149 )
NET ASSETS 65,170 79,441

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

BALANCE SHEET - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,070 79,341
65,170 79,441

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 13 November 2023 and were signed on its behalf by:





K Ferguson - Director


KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Kenneth Ferguson Electrical Contractor Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.


KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 8,000
AMORTISATION
At 1 April 2022
and 31 March 2023 8,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 61,651 8,685 1,500
Additions - 1,549 -
Disposals - - -
At 31 March 2023 61,651 10,234 1,500
DEPRECIATION
At 1 April 2022 - 6,286 717
Charge for year - 987 117
Eliminated on disposal - - -
At 31 March 2023 - 7,273 834
NET BOOK VALUE
At 31 March 2023 61,651 2,961 666
At 31 March 2022 61,651 2,399 783

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 120,709 3,734 196,279
Additions 74,533 2,026 78,108
Disposals (37,833 ) - (37,833 )
At 31 March 2023 157,409 5,760 236,554
DEPRECIATION
At 1 April 2022 85,131 1,897 94,031
Charge for year 23,461 966 25,531
Eliminated on disposal (21,566 ) - (21,566 )
At 31 March 2023 87,026 2,863 97,996
NET BOOK VALUE
At 31 March 2023 70,383 2,897 138,558
At 31 March 2022 35,578 1,837 102,248

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 94,638
Additions 74,533
Disposals (37,833 )
At 31 March 2023 131,338
DEPRECIATION
At 1 April 2022 61,956
Charge for year 22,737
Eliminated on disposal (21,566 )
At 31 March 2023 63,127
NET BOOK VALUE
At 31 March 2023 68,211
At 31 March 2022 32,682

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 167,361 81,182
Other debtors 19,493 6,917
186,854 88,099

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,398 11,289
Hire purchase contracts 22,368 19,637
Trade creditors 61,829 81,835
Taxation and social security 12,436 11,804
Other creditors 162,923 130,654
273,954 255,219

KENNETH FERGUSON ELECTRICAL CONTRACTOR
LIMITED (REGISTERED NUMBER: SC393727)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 22,435 32,387
Hire purchase contracts 50,924 13,376
73,359 45,763