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REGISTERED NUMBER: SC194104 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

EASTWOOD ELECTRICAL (SCOTLAND) LTD.

EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EASTWOOD ELECTRICAL (SCOTLAND) LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: S Morrice
Miss L W Callander



REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NH



REGISTERED NUMBER: SC194104 (Scotland)



ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: Clydesdale Bank
21 Kilmarnock Road
Glasgow
G41 3YW

EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,598 89,801

CURRENT ASSETS
Stocks 5 760 989
Debtors 6 112,936 128,371
Cash at bank and in hand 390,830 477,996
504,526 607,356
CREDITORS
Amounts falling due within one year 7 111,802 130,104
NET CURRENT ASSETS 392,724 477,252
TOTAL ASSETS LESS CURRENT
LIABILITIES

472,322

567,053

CREDITORS
Amounts falling due after more than one
year

8

(20,062

)

(30,083

)

PROVISIONS FOR LIABILITIES (8,737 ) (11,288 )
NET ASSETS 443,523 525,682

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 5 5
Retained earnings 443,418 525,577
SHAREHOLDERS' FUNDS 443,523 525,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)

BALANCE SHEET - continued
30 JUNE 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 Board of Directors and authorised for issue on 22 March 2024 and were signed on its behalf by:




Miss L W Callander - Director



S Morrice - Director


EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Eastwood Electrical (Scotland) 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. 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 amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods and provision of services.

Tangible fixed assets
Depreciation is provided at the following monthly rates in order to write off each asset over its estimated useful life.


Plant and machinery-15% on a reducing balance basis
Fixtures and fittings-15% on a reducing balance basis
Motor vehicles-25% on a reducing balance basis
Computer equipment-15% on a reducing balance basis

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.

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.

EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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

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

Rentals paid under operating leases are charged to expenditure as incurred.

Freehold properties
No depreciation is provided in respect of freehold properties. This treatment is contrary to the requirements of the Companies Act 2006 which requires all properties to be depreciated. If this departure from the Act had not been made, the profit for the financial period would have decreased by depreciation charges. However, depreciation is only one of the factors reflected at the balance sheet date valuation and the amount that might otherwise have been shown cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 44,650 2,068 3,610
Additions - - -
At 30 June 2023 44,650 2,068 3,610
DEPRECIATION
At 1 July 2022 - 1,923 2,733
Charge for year - 22 131
At 30 June 2023 - 1,945 2,864
NET BOOK VALUE
At 30 June 2023 44,650 123 746
At 30 June 2022 44,650 145 877

EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 59,082 7,725 117,135
Additions - 1,015 1,015
At 30 June 2023 59,082 8,740 118,150
DEPRECIATION
At 1 July 2022 16,147 6,531 27,334
Charge for year 10,734 331 11,218
At 30 June 2023 26,881 6,862 38,552
NET BOOK VALUE
At 30 June 2023 32,201 1,878 79,598
At 30 June 2022 42,935 1,194 89,801

5. STOCKS
2023 2022
£    £   
Stocks 760 989

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 108,199 122,952
Other debtors 4,737 5,419
112,936 128,371

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 30,623 35,562
Taxation and social security 39,067 80,192
Other creditors 32,112 4,350
111,802 130,104

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,062 30,083

EASTWOOD ELECTRICAL (SCOTLAND) LTD. (REGISTERED NUMBER: SC194104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. RELATED PARTY DISCLOSURES

The company was under the control of the directors, Lesley Callander and Stuart Morrice throughout the whole of the year ended 30 June 2023 and year ended 30 June 2022 through their controlling interests in the ultimate parent company Eastwood Electrical Holdings Limited.

Amounts owed to associated companies at 30 June 2023 comprised of £24,730 (2022:(£597)) due to Eastwood Electrical Holdings Limited.

During the year dividends of £138,000 were paid to Eastwood Electrical Holdings Limited, the ultimate parent company. (2022: £89,500).