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POWERTEC ELECTROTECHNICAL SERVICES
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

POWERTEC ELECTROTECHNICAL SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: G I Anderson





SECRETARY: G I Anderson





REGISTERED OFFICE: Kildowan
16 Wilton Hill
Hawick
Roxburghshire
TD9 8BA





REGISTERED NUMBER: SC375974 (Scotland)





ACCOUNTANTS: JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL

POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 45,000 22,409
45,000 22,409

CURRENT ASSETS
Stocks 2,900 5,800
Debtors 6 149,256 48,143
Cash at bank 33,749 114,434
185,905 168,377
CREDITORS
Amounts falling due within one year 7 64,965 42,817
NET CURRENT ASSETS 120,940 125,560
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,940

147,969

PROVISIONS FOR LIABILITIES 9,000 4,250
NET ASSETS 156,940 143,719

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 156,840 143,619
SHAREHOLDERS' FUNDS 156,940 143,719

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11th September 2024 and were signed by:





G I Anderson - Director


POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Powertec Electrotechnical Services Limited 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
The company's turnover consists of the supply and maintenance of electrical goods.

For the supply of goods, revenue is recognised when the significant risks and rewards of ownership have passed to the buyer. This is usually at the point when the customer has taken delivery of the goods.

For the sale of services, revenue is recognised when these are provided to customers. Amounts invoiced in advance of work being carried out are recorded as a liability.

Turnover is measured at the fair value of the transaction, excluding discounts, rebates, value added tax and other sales taxes

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was amortised over its estimated useful life of 6 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)

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

2. ACCOUNTING POLICIES - continued

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities as payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Going concern
The director has considered the potential impact of ongoing worldwide events on the business and is satisfied that the company has sufficient cash reserves to meet all financial obligations for the foreseeable future. The Accounts have therefore been prepared on the going concern basis.

POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 10,000
AMORTISATION
At 1st April 2023
and 31st March 2024 10,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 12,976 39,407 13,781 66,164
Additions - 37,715 707 38,422
Disposals - (833 ) - (833 )
At 31st March 2024 12,976 76,289 14,488 103,753
DEPRECIATION
At 1st April 2023 9,766 23,611 10,378 43,755
Charge for year 801 13,170 1,027 14,998
At 31st March 2024 10,567 36,781 11,405 58,753
NET BOOK VALUE
At 31st March 2024 2,409 39,508 3,083 45,000
At 31st March 2023 3,210 15,796 3,403 22,409

POWERTEC ELECTROTECHNICAL SERVICES
LIMITED (REGISTERED NUMBER: SC375974)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,142 17,551
Work in progress - 28,000
Other debtors 16,114 2,592
149,256 48,143

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,937 11,148
Taxation and social security 43,020 30,398
Other creditors 14,008 1,271
64,965 42,817

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
POWERTEC ELECTROTECHNICAL SERVICES
LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Powertec Electrotechnical Services Limited for the year ended 31st March 2024 on pages one to eight from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Powertec Electrotechnical Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powertec Electrotechnical Services Limited and state those matters that we have agreed to state to the director of Powertec Electrotechnical Services Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Powertec Electrotechnical Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Powertec Electrotechnical Services Limited. You consider that Powertec Electrotechnical Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Powertec Electrotechnical Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL


11th September 2024