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REGISTERED NUMBER: SC621336 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MONTGOMERY ELECTRICAL LTD

MONTGOMERY ELECTRICAL LTD (REGISTERED NUMBER: SC621336)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

MONTGOMERY ELECTRICAL LTD

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTOR: Mr P Montgomery





REGISTERED OFFICE: Coulnacraig
Potarch
Banchory
Aberdeenshire
AB31 4BJ





REGISTERED NUMBER: SC621336 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

MONTGOMERY ELECTRICAL LTD (REGISTERED NUMBER: SC621336)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,898 3,049

CURRENT ASSETS
Stocks 1,000 -
Debtors 6 207 10,295
Cash at bank 13,319 331
14,526 10,626
CREDITORS
Amounts falling due within one year 7 15,232 10,875
NET CURRENT LIABILITIES (706 ) (249 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,192

2,800

PROVISIONS FOR LIABILITIES 361 579
NET ASSETS 831 2,221

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 830 2,220
SHAREHOLDERS' FUNDS 831 2,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2023 and were signed by:





Mr P Montgomery - Director


MONTGOMERY ELECTRICAL LTD (REGISTERED NUMBER: SC621336)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Montgomery Electrical 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value.

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 - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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 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.

MONTGOMERY ELECTRICAL LTD (REGISTERED NUMBER: SC621336)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, which other creditors and bank loans, are recognised at transaction price.Financial liabilities are derecognised when the company's contractual obligations are discharged.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 989 2,447 645 4,081
DEPRECIATION
At 1 March 2022 247 612 173 1,032
Charge for year 327 611 213 1,151
At 28 February 2023 574 1,223 386 2,183
NET BOOK VALUE
At 28 February 2023 415 1,224 259 1,898
At 28 February 2022 742 1,835 472 3,049

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 207 10,295

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 10,612 410
Directors' current accounts 3,321 8,733
Accruals and deferred income 1,299 1,732
15,232 10,875

MONTGOMERY ELECTRICAL LTD (REGISTERED NUMBER: SC621336)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr P Montgomery
Balance outstanding at start of year (8,733 ) 1
Amounts advanced 7,929 7,250
Amounts repaid (2,517 ) (15,984 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,321 ) (8,733 )

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MONTGOMERY ELECTRICAL LTD (REGISTERED NUMBER: SC621336)

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Montgomery Electrical Ltd for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Montgomery Electrical Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Montgomery Electrical Ltd and state those matters that we have agreed to state to the director of Montgomery Electrical Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Montgomery Electrical Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Montgomery Electrical Ltd. You consider that Montgomery Electrical Ltd 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 financial statements of Montgomery Electrical Ltd. 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 financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


22 June 2023