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REGISTERED NUMBER: SC150935 (Scotland)















BELL ELECTRICAL GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BELL ELECTRICAL GROUP LIMITED

COMPANY INFORMATION
For The Year Ended 31 January 2024







DIRECTORS: G W Bell
Ms K J Graham





SECRETARY: Ms K J Graham





REGISTERED OFFICE: 15 Mains Street
Lockerbie
Dumfriesshire
DG11 2DG





REGISTERED NUMBER: SC150935 (Scotland)






BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 99,922 115,898
99,922 115,898

CURRENT ASSETS
Stocks 107,909 62,307
Debtors 6 238,938 208,820
Cash at bank and in hand 701,360 517,397
1,048,207 788,524
CREDITORS
Amounts falling due within one year 7 266,260 207,824
NET CURRENT ASSETS 781,947 580,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

881,869

696,598

CREDITORS
Amounts falling due after more than one
year

8

-

(5,280

)

PROVISIONS FOR LIABILITIES (24,615 ) (28,826 )
NET ASSETS 857,254 662,492

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 857,154 662,392
SHAREHOLDERS' FUNDS 857,254 662,492

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.

BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





Ms K J Graham - Director


BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2024


1. STATUTORY INFORMATION

Bell Electrical Group 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
Turnover represents goods sold and services provided during the year, excluding VAT.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and was amortised on a systematic basis over its expected life, which was 20 years.

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 etc - 20% and 15% reducing balance and 33% on cost

Government grants
Government grants in respect of revenue expenditure are credited to the profit and loss account in the period to which they relate.

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

Work in progress is valued based on the company's performance of contracts undertaken and its subsequent right to consideration. Profit has been recognised on contracts which are not invoiced at the year end based on the stage of completion of the individual contracts, where the profit can be ascertained with reasonable certainty. Provision has been made for any foreseeable losses where appropriate.

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


BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method. The capital element of future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 290,000
AMORTISATION
At 1 February 2023
and 31 January 2024 290,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 281,617
Additions 4,050
At 31 January 2024 285,667
DEPRECIATION
At 1 February 2023 165,719
Charge for year 20,026
At 31 January 2024 185,745
NET BOOK VALUE
At 31 January 2024 99,922
At 31 January 2023 115,898

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 204,590 203,130
Other debtors 34,348 5,690
238,938 208,820

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 5,278 6,000
Trade creditors 46,875 66,690
Directors' loan account 23,677 18,022
Amounts owed to group undertakings 3,107 1,712
Taxation and social security 160,184 101,072
Other creditors 27,139 14,328
266,260 207,824

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts - 5,280

BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 5,278 11,280

Hire purchase creditors have security over related assets.

10. OTHER FINANCIAL COMMITMENTS

At 31 January 2024 the company was committed to making total payments under operating leases of £23,750 (2023, £31,250).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 January 2024 the company had provided one of the company's directors with loans totalling £28,193 (2023, £0). Interest has been charged at the official rate of interest. There are no fixed repayment terms for these loans, which are included in other debtors.

12. RELATED PARTY DISCLOSURES

At 31 January 2024 one of the company's directors had provided interest free loans to the company totalling £23,677. There are no fixed repayment terms for these loans.

At 31 January 2023 the company's directors had provided interest free loans to the company totalling £18,022. There were no fixed repayment terms for these loans.