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REGISTERED NUMBER: SC181795 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SHAWS ELECTRICAL ENGINEERS LTD.

SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHAWS ELECTRICAL ENGINEERS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr W Shaw
Mr A Shaw





SECRETARY: Mrs M Shaw





REGISTERED OFFICE: 47 Crow Wood Road
Muirhead
GLASGOW
G69 9BU





REGISTERED NUMBER: SC181795 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 35,845 3,462
35,845 3,462

CURRENT ASSETS
Stocks 6 77,250 2,250
Debtors 7 76,124 119,829
Cash at bank 180,370 170,471
333,744 292,550
CREDITORS
Amounts falling due within one year 8 95,444 169,093
NET CURRENT ASSETS 238,300 123,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

274,145

126,919

PROVISIONS FOR LIABILITIES 10 8,922 621
NET ASSETS 265,223 126,298

CAPITAL AND RESERVES
Called up share capital 75,002 75,002
Retained earnings 190,221 51,296
SHAREHOLDERS' FUNDS 265,223 126,298

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)

BALANCE SHEET - continued
31 MAY 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 20 November 2023 and were signed on its behalf by:





Mr W Shaw - Director


SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Shaws Electrical Engineers 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 represents net invoiced sales of goods and services, excluding value added tax.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, has been fully amortised over its estimated useful life of 4 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 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.

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.

SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing contracts
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.


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 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 20,000
AMORTISATION
At 1 June 2022
and 31 May 2023 20,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2022 12,117 8,025 20,142
Additions 1,309 32,950 34,259
At 31 May 2023 13,426 40,975 54,401
DEPRECIATION
At 1 June 2022 11,141 5,539 16,680
Charge for year 569 1,307 1,876
At 31 May 2023 11,710 6,846 18,556
NET BOOK VALUE
At 31 May 2023 1,716 34,129 35,845
At 31 May 2022 976 2,486 3,462

6. STOCKS
31.5.23 31.5.22
£    £   
Stock 2,250 2,250
Work in progress 75,000 -
77,250 2,250

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 72,983 115,914
VAT 1,753 -
Prepayments 1,388 3,915
76,124 119,829

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 5,549 7,125
Trade creditors 5,558 9,687
Corporation tax 47,707 20,778
Payroll taxation 1,209 2,109
Pension fund control 6,882 7,188
VAT - 10,667
Directors' current accounts 20,554 22,289
Accrued charges 7,985 89,250
95,444 169,093

SHAWS ELECTRICAL ENGINEERS LTD. (REGISTERED NUMBER: SC181795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank overdrafts 5,549 7,125

Mr W Shaw has personally guaranteed the bank overdraft facilities.

10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 8,922 621

Deferred
tax
£   
Balance at 1 June 2022 621
Provided during year 8,301
Balance at 31 May 2023 8,922

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr W Shaw.