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REGISTERED NUMBER: SC179534 (Scotland)











































Eastern Electric (Scotland) Limited

Unaudited Financial Statements

for the Year Ended 31st January 2024






Eastern Electric (Scotland) Limited (Registered number: SC179534)






Contents of the Financial Statements
for the year ended 31st January 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Eastern Electric (Scotland) Limited

Company Information
for the year ended 31st January 2024







Directors: S P Gillie
P J Sutherland





Registered office: 7 Straiton View
Straiton
Loanhead
EH20 9QZ





Registered number: SC179534 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Eastern Electric (Scotland) Limited (Registered number: SC179534)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 91,341 88,759

Current assets
Stocks 1,000 1,000
Debtors 5 300,834 120,920
Cash at bank 263,858 376,719
565,692 498,639
Creditors
Amounts falling due within one year 6 401,775 239,827
Net current assets 163,917 258,812
Total assets less current liabilities 255,258 347,571

Creditors
Amounts falling due after more than one
year

7

(120,389

)

(176,874

)

Provisions for liabilities (19,182 ) -
Net assets 115,687 170,697

Capital and reserves
Called up share capital 1,330 1,140
Share premium 28,560 -
Retained earnings 85,797 169,557
115,687 170,697

Eastern Electric (Scotland) Limited (Registered number: SC179534)

Balance Sheet - continued
31st January 2024


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

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

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 Board of Directors and authorised for issue on 30th October 2024 and were signed on its behalf by:





S P Gillie - Director


Eastern Electric (Scotland) Limited (Registered number: SC179534)

Notes to the Financial Statements
for the year ended 31st January 2024

1. Statutory information

Eastern Electric (Scotland) 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 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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 - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.


Eastern Electric (Scotland) Limited (Registered number: SC179534)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

2. Accounting policies - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the 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 set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Income Statement in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 8 (2023 - 9 ) .

Eastern Electric (Scotland) Limited (Registered number: SC179534)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1st February 2023 11,549 81,374 92,923
Additions 3,216 24,206 27,422
At 31st January 2024 14,765 105,580 120,345
Depreciation
At 1st February 2023 4,164 - 4,164
Charge for year 3,491 21,349 24,840
At 31st January 2024 7,655 21,349 29,004
Net book value
At 31st January 2024 7,110 84,231 91,341
At 31st January 2023 7,385 81,374 88,759

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 300,834 106,309
Other debtors - 14,611
300,834 120,920

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 23,431 17,998
Trade creditors 195,605 165,314
Taxation and social security 131,854 9,858
Other creditors 20,885 16,657
401,775 239,827

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 67,500 97,500
Hire purchase contracts 52,889 79,374
120,389 176,874

Eastern Electric (Scotland) Limited (Registered number: SC179534)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 76,320 -

Hire purchase contracts are secured against the assets to which they relate.