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REGISTERED NUMBER: SC292562 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Chapman Electrical Ltd

Chapman Electrical Ltd (Registered number: SC292562)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chapman Electrical Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: G Chapman
C Adams





SECRETARY: Add Accountancy Limited





REGISTERED OFFICE: Dunvaroch
Everton of Auchry
Cuminestown
Turriff
Aberdeenshire
AB53 5TG





REGISTERED NUMBER: SC292562 (Scotland)





ACCOUNTANTS: Add Accountancy Limited
6 Market Square
Oldmeldrum
Aberdeenshire
AB51 0AA

Chapman Electrical Ltd (Registered number: SC292562)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,043 140,258

CURRENT ASSETS
Stocks 10,500 64,829
Debtors 5 465,938 405,872
Cash at bank and in hand 718,158 685,742
1,194,596 1,156,443
CREDITORS
Amounts falling due within one year 6 334,457 434,722
NET CURRENT ASSETS 860,139 721,721
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,001,182

861,979

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,000,982 861,779
SHAREHOLDERS' FUNDS 1,001,182 861,979

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

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

Chapman Electrical Ltd (Registered number: SC292562)

Balance Sheet - continued
31 October 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 30 July 2024 and were signed on its behalf by:




G Chapman - Director



C Adams - Director


Chapman Electrical Ltd (Registered number: SC292562)

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

1. STATUTORY INFORMATION

Chapman Electrical 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Chapman Electrical Ltd (Registered number: SC292562)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 14 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 94,227 7,751 320,863 18,178 441,019
Additions 24,000 - 49,990 1,516 75,506
Disposals (20,800 ) - (66,445 ) - (87,245 )
At 31 October 2023 97,427 7,751 304,408 19,694 429,280
DEPRECIATION
At 1 November 2022 79,592 5,479 200,864 14,826 300,761
Charge for year 8,970 568 36,260 1,217 47,015
Eliminated on disposal (18,044 ) - (41,495 ) - (59,539 )
At 31 October 2023 70,518 6,047 195,629 16,043 288,237
NET BOOK VALUE
At 31 October 2023 26,909 1,704 108,779 3,651 141,043
At 31 October 2022 14,635 2,272 119,999 3,352 140,258

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 462,645 361,270
Other debtors 1,000 1,000
VAT 2,293 43,602
465,938 405,872

Chapman Electrical Ltd (Registered number: SC292562)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 159,991 252,122
Tax 83,293 21,775
Social security and other taxes 14,017 14,285
Credit Card 55,847 122,131
Directors' current accounts 19,099 22,199
Accrued expenses 2,210 2,210
334,457 434,722