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REGISTERED NUMBER: SC527477 (Scotland)










Unaudited Financial Statements

for the Year Ended

31 March 2023

for

AM ELECTRICAL CONTRACTS LTD

AM ELECTRICAL CONTRACTS LTD (REGISTERED NUMBER: SC527477)






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


AM ELECTRICAL CONTRACTS LTD

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A McLeish





REGISTERED OFFICE: 378 Brandon Street
Oakfield House
Motherwell
Lanarkshire
ML1 1XA





REGISTERED NUMBER: SC527477 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

AM ELECTRICAL CONTRACTS LTD (REGISTERED NUMBER: SC527477)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,364 10,197

CURRENT ASSETS
Stocks 231,117 -
Debtors 5 29,853 135,538
Cash at bank 28,742 55,576
289,712 191,114
CREDITORS
Amounts falling due within one year 6 (188,410 ) (105,417 )
NET CURRENT ASSETS 101,302 85,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,666

95,894

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 107,566 95,794
107,666 95,894

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 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.

AM ELECTRICAL CONTRACTS LTD (REGISTERED NUMBER: SC527477)

Balance Sheet - continued
31 March 2023


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 3 October 2023 and were signed by:





A McLeish - Director


AM ELECTRICAL CONTRACTS LTD (REGISTERED NUMBER: SC527477)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

AM Electrical Contracts 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 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 - 33% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.


AM ELECTRICAL CONTRACTS LTD (REGISTERED NUMBER: SC527477)

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.

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 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 10,322 1,233 15,000 7,353 33,908
Additions 2,230 625 - 365 3,220
At 31 March 2023 12,552 1,858 15,000 7,718 37,128
DEPRECIATION
At 1 April 2022 6,920 34 12,083 4,674 23,711
Charge for year 2,207 602 2,917 1,327 7,053
At 31 March 2023 9,127 636 15,000 6,001 30,764
NET BOOK VALUE
At 31 March 2023 3,425 1,222 - 1,717 6,364
At 31 March 2022 3,402 1,199 2,917 2,679 10,197

AM ELECTRICAL CONTRACTS LTD (REGISTERED NUMBER: SC527477)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,975 128,624
Other debtors 11,878 6,914
29,853 135,538

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 130,820 44,897
Taxation and social security 26,244 33,023
Other creditors 31,346 27,497
188,410 105,417