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Registered number: SC309608










ALECTRICAL (SCOTLAND) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
ALECTRICAL (SCOTLAND) LIMITED
 

COMPANY INFORMATION


Directors
Mr A Florence 
Mrs M Florence 




Registered number
SC309608



Registered office
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




Accountants
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
ALECTRICAL (SCOTLAND) LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ALECTRICAL (SCOTLAND) LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alectrical (Scotland) Limited for the year ended 30 November 2023 which comprise  the Statement of financial position and the related notes from the Company accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of directors of Alectrical (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated 1 June 2023Our work has been undertaken solely to prepare for your approval the financial statements of Alectrical (Scotland) Limited and state those matters that we have agreed to state to the Board of directors of Alectrical (Scotland) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alectrical (Scotland) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Alectrical (Scotland) Limited 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 or loss of Alectrical (Scotland) Limited. You consider that Alectrical (Scotland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Alectrical (Scotland) Limited. 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.

  



EQ Accountants Limited
 
Chartered Accountants
  
Westby
64 West High Street
Forfar
Angus
DD8 1BJ
7 March 2024
Page 1

 
ALECTRICAL (SCOTLAND) LIMITED
REGISTERED NUMBER: SC309608

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
24,173
19,431

Investments
 5 
100
100

  
24,273
19,531

CURRENT ASSETS
  

Stocks
  
2,000
314,383

Debtors: amounts falling due within one year
 6 
60,681
92,790

Cash at bank and in hand
  
400,574
20,642

  
463,255
427,815

Creditors: amounts falling due within one year
 7 
(100,039)
(113,980)

NET CURRENT ASSETS
  
 
 
363,216
 
 
313,835

TOTAL ASSETS LESS CURRENT LIABILITIES
  
387,489
333,366

Creditors: amounts falling due after more than one year
 8 
(21,747)
(36,477)

PROVISIONS FOR LIABILITIES
  

Deferred Tax
  
(6,043)
(3,692)

  
 
 
(6,043)
 
 
(3,692)

NET ASSETS
  
359,699
293,197


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
359,599
293,097

  
359,699
293,197

Page 2

 
ALECTRICAL (SCOTLAND) LIMITED
REGISTERED NUMBER: SC309608

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 March 2024.



Mr A Florence
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
ALECTRICAL (SCOTLAND) LIMITED
 

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

1.


General information

The company is limited by shares and incorporated in Scotland. The trading and registered office address  is East Den Brae, Letham, Angus, DD8 2PJ.
The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
ALECTRICAL (SCOTLAND) LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
12.50%
reducing balance method
Motor vehicles
-
25.00%
reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
ALECTRICAL (SCOTLAND) LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
ALECTRICAL (SCOTLAND) LIMITED
 

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

4.


Tangible fixed assets





Plant and Machinery
Motor Vehicles
Total

£
£
£



COST OR VALUATION


At 1 December 2022
9,499
41,125
50,624


Additions
-
14,500
14,500


Disposals
-
(17,450)
(17,450)



At 30 November 2023

9,499
38,175
47,674



DEPRECIATION


At 1 December 2022
5,714
25,479
31,193


Charge for the year on owned assets
475
6,954
7,429


Disposals
-
(15,121)
(15,121)



At 30 November 2023

6,189
17,312
23,501



NET BOOK VALUE



At 30 November 2023
3,310
20,863
24,173



At 30 November 2022
3,785
15,646
19,431


5.


Fixed asset investments





Investments in Subsidiary Companies

£



COST OR VALUATION


At 1 December 2022
100



At 30 November 2023
100




Page 7

 
ALECTRICAL (SCOTLAND) LIMITED
 

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

6.


Debtors

2023
2022
£
£


Trade debtors
6,363
38,888

Other debtors
52,555
52,555

Prepayments and accrued income
1,763
1,347

60,681
92,790



7.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
11,251
11,251

Trade creditors
14,832
9,746

Other taxation and social security
20,472
8,354

Obligations under finance lease and hire purchase contracts
3,479
3,334

Other creditors
48,555
79,535

Accruals and deferred income
1,450
1,760

100,039
113,980



8.


Creditors: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
17,814
29,065

Net obligations under finance leases and hire purchase contracts
3,933
7,412

21,747
36,477


Page 8

 
ALECTRICAL (SCOTLAND) LIMITED
 

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

9.


Loans


2023
2022
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
11,251
11,251


11,251
11,251

AMOUNTS FALLING DUE 1-2 YEARS

Bank loans
17,814
29,065


17,814
29,065



29,065
40,316



Page 9