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REGISTERED NUMBER: SC282828 (Scotland)












Financial Statements

for the Year Ended 30 April 2023

for

Power Factor Scotland Ltd

Power Factor Scotland Ltd (Registered number: SC282828)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Power Factor Scotland Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTORS: I Felth
Mrs A M Felth





SECRETARY: Mrs A M Felth





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
G76 7HU





REGISTERED NUMBER: SC282828 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Power Factor Scotland Ltd (Registered number: SC282828)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,738 48,312

CURRENT ASSETS
Stocks 2,638 18,918
Debtors 5 27,520 10,975
Cash at bank 20,167 2,061
50,325 31,954
CREDITORS
Amounts falling due within one year 6 26,033 35,993
NET CURRENT ASSETS/(LIABILITIES) 24,292 (4,039 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,030

44,273

CREDITORS
Amounts falling due after more than one
year

7

(80,207

)

(42,465

)

PROVISIONS FOR LIABILITIES (4,162 ) (3,963 )
NET LIABILITIES (7,339 ) (2,155 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (7,439 ) (2,255 )
SHAREHOLDERS' FUNDS (7,339 ) (2,155 )

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

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

Power Factor Scotland Ltd (Registered number: SC282828)

Balance Sheet - continued
30 April 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 18 January 2024 and were signed on its behalf by:





I Felth - Director


Power Factor Scotland Ltd (Registered number: SC282828)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Power Factor 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.

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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
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.

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.

Power Factor Scotland Ltd (Registered number: SC282828)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 3,163 - 61,026 16,183 80,372
Additions - 1,594 54,828 1,050 57,472
Disposals - - (61,026 ) - (61,026 )
At 30 April 2023 3,163 1,594 54,828 17,233 76,818
DEPRECIATION
At 1 May 2022 1,424 - 18,097 12,539 32,060
Charge for year 261 239 6,938 2,679 10,117
Eliminated on disposal - - (18,097 ) - (18,097 )
At 30 April 2023 1,685 239 6,938 15,218 24,080
NET BOOK VALUE
At 30 April 2023 1,478 1,355 47,890 2,015 52,738
At 30 April 2022 1,739 - 42,929 3,644 48,312

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,693 9,818
Other debtors 6,827 1,157
27,520 10,975

Power Factor Scotland Ltd (Registered number: SC282828)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,040 5,232
Hire purchase contracts 7,316 -
Trade creditors - 16,238
Taxation and social security 11,090 6,962
Other creditors 2,587 7,561
26,033 35,993

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 37,013 42,465
Hire purchase contracts 43,194 -
80,207 42,465

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100