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REGISTERED NUMBER: SC295165















ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,391 214,817

CURRENT ASSETS
Stocks 1,265 1,150
Debtors 5 499,161 311,234
Cash in hand 25 25
500,451 312,409
CREDITORS
Amounts falling due within one year 6 584,882 293,189
NET CURRENT (LIABILITIES)/ASSETS (84,431 ) 19,220
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,960

234,037

CREDITORS
Amounts falling due after more than one
year

7

(109,342

)

(138,556

)

PROVISIONS FOR LIABILITIES (2,375 ) (2,699 )
NET ASSETS 9,243 92,782

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,143 92,682
9,243 92,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)

BALANCE SHEET - continued
31 JANUARY 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2024 and were signed on its behalf by:





C T Bryant - Director


ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Electrical Solutions (Scotland) Limited is a private company, limited by shares, registered in Scotland. The company's registered office is 47-51 Glasgow Road Rutherglen, Glasgow, United Kingdom, G73 1LJ.

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 the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and selling price less cost to sell.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from third parties and loans to related parties.

Debt instruments like loans and other account receivable and payable are initially measured at present value of future payments and subsequently at amortised cost using the effective interest method. Debit instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measure initially, and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in the profit and loss account.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.


ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it to be more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates which would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 217,307 76,951 294,258
Additions - 73 73
At 31 January 2024 217,307 77,024 294,331
DEPRECIATION
At 1 February 2023 23,077 56,364 79,441
Charge for year 4,346 5,153 9,499
At 31 January 2024 27,423 61,517 88,940
NET BOOK VALUE
At 31 January 2024 189,884 15,507 205,391
At 31 January 2023 194,230 20,587 214,817

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 281,147 151,462
Retentions 68,072 65,047
Work in progress 111,000 62,795
Other debtors 38,942 31,930
499,161 311,234

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 75,396 67,757
Trade creditors 368,585 165,500
Taxation and social security 16,127 35,807
Other creditors 124,774 24,125
584,882 293,189

The bank loan and overdrafts are secured by a fixed floating charge over the company's assets.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 109,342 138,556

The bank loan and overdrafts are secured by a fixed floating charge over the company's assets.

ELECTRICAL SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC295165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 44,173 27,926
Between one and five years 85,885 70,095
130,058 98,021

9. RELATED PARTY DISCLOSURES

At the period end, the company owed £46,000 (2023: £10,660) to a company with a common director. The loan is interest free, unsecured and has no fixed repayment terms.