1 November 2022 false No description of principal activity Taxfiler 2024.5 SC195590business:PrivateLimitedCompanyLtd2022-11-012023-10-31 SC1955902022-10-31 SC1955902022-11-012023-10-31 SC195590business:AuditExemptWithAccountantsReport2022-11-012023-10-31 SC195590business:AbridgedAccounts2022-11-012023-10-31 SC1955902023-10-31 SC195590business:Director12022-11-012023-10-31 SC195590business:Director22022-11-012023-10-31 SC195590business:RegisteredOffice2022-11-012023-10-31 SC1955902022-10-31 SC195590core:WithinOneYear2023-10-31 SC195590core:WithinOneYear2022-10-31 SC195590core:AfterOneYear2023-10-31 SC195590core:AfterOneYear2022-10-31 SC195590core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 SC195590core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 SC195590core:RevaluationReservecore:PreviouslyStatedAmount2023-10-31 SC195590core:RevaluationReservecore:PreviouslyStatedAmount2022-10-31 SC195590core:CapitalRedemptionReservecore:PreviouslyStatedAmount2023-10-31 SC195590core:CapitalRedemptionReservecore:PreviouslyStatedAmount2022-10-31 SC195590core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 SC195590core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 SC195590core:PreviouslyStatedAmount2023-10-31 SC195590core:PreviouslyStatedAmount2022-10-31 SC195590business:SmallEntities2022-11-012023-10-31 SC195590countries:Scotland2022-11-012023-10-31 SC195590core:LandBuildings2022-11-012023-10-31 SC195590core:PlantMachinery2022-11-012023-10-31 SC195590core:MotorVehicles2022-11-012023-10-31 SC195590core:LandBuildings2023-10-31 SC195590core:LandBuildings2022-10-31 SC195590core:PlantMachinerycore:LeasedAssetsHeldAsLessee2023-10-31 SC195590core:PlantMachinerycore:LeasedAssetsHeldAsLessee2022-10-31 SC195590core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-10-31 SC195590core:MotorVehiclescore:LeasedAssetsHeldAsLessee2022-10-31 SC195590core:BetweenOneFiveYears2023-10-31 SC195590core:BetweenOneFiveYears2022-10-31 SC1955902021-11-012022-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC195590 (Scotland)
ERG (Scotland) Limited Unaudited accounts for the year ended 31 October 2023
ERG (Scotland) Limited Unaudited accounts Contents
Page
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ERG (Scotland) Limited Company Information for the year ended 31 October 2023
Directors
I Joy G Joy
Company Number
SC195590 (Scotland)
Registered Office
19 Clayton Court Invergordon Industrial Estate Invergordon Ross-Shire IV18 0SB
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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ERG (Scotland) Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
914,839 
927,126 
Current assets
Inventories
128,115 
175,304 
Debtors
534,840 
525,517 
Cash at bank and in hand
100,431 
275,223 
763,386 
976,044 
Creditors: amounts falling due within one year
(719,984)
(989,880)
Net current assets/(liabilities)
43,402 
(13,836)
Total assets less current liabilities
958,241 
913,290 
Creditors: amounts falling due after more than one year
(222,311)
(294,342)
Provisions for liabilities
Deferred tax
(141,322)
(108,745)
Net assets
594,608 
510,203 
Capital and reserves
Called up share capital
70,191 
70,191 
Revaluation reserve
327,462 
327,462 
Capital redemption reserve
9 
9 
Profit and loss account
196,946 
112,541 
Shareholders' funds
594,608 
510,203 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
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
I Joy Director Company Registration No. SC195590
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ERG (Scotland) Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
ERG (Scotland) Limited is a private company, limited by shares, registered in Scotland, registration number SC195590. The registered office is 19 Clayton Court, Invergordon Industrial Estate, Invergordon, Ross-Shire, IV18 0SB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost or valuation less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 50 years
Plant & machinery
10% straight line and 15% reducing balance
Motor vehicles
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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ERG (Scotland) Limited Notes to the Accounts for the year ended 31 October 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 November 2022
150,000 
At 31 October 2023
150,000 
Amortisation
At 1 November 2022
150,000 
At 31 October 2023
150,000 
Net book value
At 31 October 2023
- 
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ERG (Scotland) Limited Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 November 2022
1,369,987 
Additions
123,950 
Disposals
(300,144)
At 31 October 2023
1,193,793 
Depreciation
At 1 November 2022
442,861 
Charge for the year
85,210 
On disposals
(249,117)
At 31 October 2023
278,954 
Net book value
At 31 October 2023
914,839 
At 31 October 2022
927,126 
2023 
2022 
£ 
£ 
Carrying amount of land and buildings on cost basis
216,442 
216,442 
The company's premises were revalued at an open market value of £590,000 on 10 January 2023 by Shepherd Commercial, qualified chartered surveyors.
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
4,623 
5,439 
- Motor vehicles
235,707 
211,423 
6
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 October 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
1,645 
878 
Later than one year and not later than five years
56,559 
4,465 
58,204 
5,343 
7
Loans to directors
Included in debtors are loans of £80,168 to I Joy (2022 - £83,068) and £80,167 to G Joy (2022- £83,068). The loans bear interest at the statutory rate.
8
Average number of employees
During the year the average number of employees was 31 (2022: 33).
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