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BILLY PATERSON ELECTRICAL CONTRACTING LTD

Registered Number
SC676926
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2023

BILLY PATERSON ELECTRICAL CONTRACTING LTD
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

PATERSON, William

Registered Address

Mckellar Accountancy, Unit 3.2
1 Macdowall Street
Paisley
PA3 2NB

Registered Number

SC676926 (Scotland)
BILLY PATERSON ELECTRICAL CONTRACTING LTD
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks325,0536,739
Debtors49,0044,838
Cash at bank and on hand8,60935,884
42,66647,461
Creditors amounts falling due within one year5(41,121)(34,397)
Net current assets (liabilities)1,54513,064
Total assets less current liabilities1,54513,064
Net assets1,54513,064
Capital and reserves
Called up share capital11
Profit and loss account1,54413,063
Shareholders' funds1,54513,064
The financial statements were approved and authorised for issue by the Director on 12 August 2024, and are signed on its behalf by:
PATERSON, William
Director
Registered Company No. SC676926
BILLY PATERSON ELECTRICAL CONTRACTING LTD
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year54
3.Stocks

2023

2022

££
Work in progress25,0536,739
Total25,0536,739
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables9,0044,741
Other debtors-97
Total9,0044,838
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables8,81713,520
Taxation and social security26,11919,787
Other creditors6,1851,090
Total41,12134,397