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REGISTERED NUMBER: SC482339 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

TT ELECTRICAL SERVICES (SCOTLAND) LTD

TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TT ELECTRICAL SERVICES (SCOTLAND) LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: A V Tortolano





REGISTERED OFFICE: 2 Holyrood Cottages
Knockhall Road
Newburgh
Ellon
Aberdeenshire
AB41 6BJ





REGISTERED NUMBER: SC482339 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)

Balance Sheet
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 824 4,964

CURRENT ASSETS
Stocks 1,200 1,795
Debtors 5 27,948 7,184
Cash at bank 20,738 12,430
49,886 21,409
CREDITORS
Amounts falling due within one year 6 32,649 20,525
NET CURRENT ASSETS 17,237 884
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,061

5,848

CREDITORS
Amounts falling due after more than one
year

7

(2,170

)

(4,774

)

PROVISIONS FOR LIABILITIES 8 (157 ) (943 )
NET ASSETS 15,734 131

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 15,733 130
SHAREHOLDERS' FUNDS 15,734 131

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

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

TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)

Balance Sheet - continued
31 JULY 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 director and authorised for issue on 30 October 2024 and were signed by:





A V Tortolano - Director


TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

TT Electrical Services (Scotland) Ltd 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, 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

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.

TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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 the 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 4,343 14,908 1,944 21,195
DEPRECIATION
At 1 August 2023 3,106 11,181 1,944 16,231
Charge for year 413 3,727 - 4,140
At 31 July 2024 3,519 14,908 1,944 20,371
NET BOOK VALUE
At 31 July 2024 824 - - 824
At 31 July 2023 1,237 3,727 - 4,964

TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 14,908
DEPRECIATION
At 1 August 2023 11,181
Charge for year 3,727
At 31 July 2024 14,908
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 3,727

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 27,948 7,184

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 5,867 9,067
Hire purchase contracts 2,604 2,604
Trade creditors 9,155 2,373
Tax 9,511 3,614
Social security and other taxes 235 178
VAT 4,486 2,607
Directors' current accounts 791 82
32,649 20,525

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 2,170 4,774

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 157 943

TT ELECTRICAL SERVICES (SCOTLAND) LTD (REGISTERED NUMBER: SC482339)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2023 943
Provided during year (786 )
Balance at 31 July 2024 157