Eros Electrical Ltd SC464693 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is The principal activity of the company during the period was electrical work. Digita Accounts Production Advanced 6.30.9574.0 true true SC464693 2022-12-01 2023-11-30 SC464693 2023-11-30 SC464693 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-11-30 SC464693 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-11-30 SC464693 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-11-30 SC464693 bus:OrdinaryShareClass4 bus:CumulativeShares 2023-11-30 SC464693 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC464693 core:ShareCapital 2023-11-30 SC464693 core:CurrentFinancialInstruments 2023-11-30 SC464693 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 SC464693 core:FurnitureFittingsToolsEquipment 2023-11-30 SC464693 core:MotorVehicles 2023-11-30 SC464693 bus:SmallEntities 2022-12-01 2023-11-30 SC464693 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC464693 bus:FilletedAccounts 2022-12-01 2023-11-30 SC464693 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC464693 bus:RegisteredOffice 2022-12-01 2023-11-30 SC464693 bus:Director1 2022-12-01 2023-11-30 SC464693 bus:Director2 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass2 bus:CumulativeShares 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass3 bus:CumulativeShares 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass4 2022-12-01 2023-11-30 SC464693 bus:OrdinaryShareClass4 bus:CumulativeShares 2022-12-01 2023-11-30 SC464693 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC464693 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 SC464693 core:MotorVehicles 2022-12-01 2023-11-30 SC464693 core:OfficeEquipment 2022-12-01 2023-11-30 SC464693 countries:Scotland 2022-12-01 2023-11-30 SC464693 2022-11-30 SC464693 core:FurnitureFittingsToolsEquipment 2022-11-30 SC464693 core:MotorVehicles 2022-11-30 SC464693 2021-12-01 2022-11-30 SC464693 2022-11-30 SC464693 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-11-30 SC464693 bus:OrdinaryShareClass2 bus:CumulativeShares 2022-11-30 SC464693 bus:OrdinaryShareClass3 bus:CumulativeShares 2022-11-30 SC464693 bus:OrdinaryShareClass4 bus:CumulativeShares 2022-11-30 SC464693 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC464693 core:ShareCapital 2022-11-30 SC464693 core:CurrentFinancialInstruments 2022-11-30 SC464693 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 SC464693 core:FurnitureFittingsToolsEquipment 2022-11-30 SC464693 core:MotorVehicles 2022-11-30 SC464693 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 SC464693 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 SC464693 bus:OrdinaryShareClass3 2021-12-01 2022-11-30 SC464693 bus:OrdinaryShareClass4 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC464693

Eros Electrical Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Eros Electrical Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Eros Electrical Ltd

(Registration number: SC464693)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

117,379

13,423

Investment property

5

342,662

208,492

 

460,041

221,915

Current assets

 

Stocks

6

-

26,260

Debtors

7

105,029

85,127

Cash at bank and in hand

 

243,093

421,674

 

348,122

533,061

Creditors: Amounts falling due within one year

8

(334,249)

(205,625)

Net current assets

 

13,873

327,436

Net assets

 

473,914

549,351

Capital and reserves

 

Called up share capital

9

4

4

Retained earnings

473,910

549,347

Shareholders' funds

 

473,914

549,351

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 

 

Eros Electrical Ltd

(Registration number: SC464693)
Statement of Financial Position as at 30 November 2023

.........................................
Mr E Cumming
Director

.........................................
Mr R Martin
Director

 

Eros Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
10 Balmossie Meadow
Broughty Ferry
DUNDEE
DD5 3GG

The principal place of business is:
10 Balmossie Meadow
Broughty Ferry
DUNDEE
DD5 3GG

These financial statements were authorised for issue by the Board on 23 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Eros Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicle

25% reducing balance

Office equipment

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

Eros Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Eros Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 6 (2022 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

3,330

33,048

36,378

Additions

1,665

116,336

118,001

At 30 November 2023

4,995

149,384

154,379

Depreciation

At 1 December 2022

945

22,010

22,955

Charge for the year

379

13,666

14,045

At 30 November 2023

1,324

35,676

37,000

Carrying amount

At 30 November 2023

3,671

113,708

117,379

At 30 November 2022

2,385

11,038

13,423

5

Investment properties

2023
£

At 1 December

208,492

Additions

134,170

At 30 November

342,662

There has been no valuation of investment property by an independent valuer.

 

Eros Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Stocks

2023
£

2022
£

Work in progress

-

26,260

7

Debtors

Current

2023
£

2022
£

Trade debtors

102,951

82,668

Prepayments

2,078

2,459

 

105,029

85,127

 

Eros Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

33,118

26,573

Taxation and social security

75,383

106,269

Accruals and deferred income

10,446

3,960

Other creditors

215,302

68,823

334,249

205,625

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

4

4

4

4

10

Dividends

Final dividends paid

2023
£

2022
£

Final dividend of £82,251.17 (2022 - £37,700.00) per each Ordinary A

82,251

37,700

Final dividend of £84,025.06 (2022 - £37,700.00) per each Ordinary B

84,025

37,700

Final dividend of £15,011.62 (2022 - £Nil) per each Ordinary C

15,012

-

Final dividend of £83,032.72 (2022 - £37,175.00) per each Ordinary D

83,033

37,175

264,321

112,575