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REGISTERED NUMBER: SC282828 (Scotland)












Financial Statements

for the Year Ended 30 April 2024

for

Power Factor Scotland Ltd

Power Factor Scotland Ltd (Registered number: SC282828)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Power Factor Scotland Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: I Felth
Mrs A M Felth





SECRETARY: Mrs A M Felth





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
G76 7HU





REGISTERED NUMBER: SC282828 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Power Factor Scotland Ltd (Registered number: SC282828)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 41,250 52,738

CURRENT ASSETS
Stocks 3,492 2,638
Debtors 4 36,723 27,520
Cash at bank 2,637 20,167
42,852 50,325
CREDITORS
Amounts falling due within one year 5 28,266 26,033
NET CURRENT ASSETS 14,586 24,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,836

77,030

CREDITORS
Amounts falling due after more than one year 6 (66,302 ) (80,207 )

PROVISIONS FOR LIABILITIES (3,224 ) (4,162 )
NET LIABILITIES (13,690 ) (7,339 )

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (13,790 ) (7,439 )
SHAREHOLDERS' FUNDS (13,690 ) (7,339 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Power Factor Scotland Ltd (Registered number: SC282828)

Balance Sheet - continued
30 April 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 19 December 2024 and were signed on its behalf by:





I Felth - Director


Power Factor Scotland Ltd (Registered number: SC282828)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Power Factor Scotland Ltd (Registered number: SC282828)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

1. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 2 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 3,163 1,594 54,828 17,233 76,818
Additions - - - 2,246 2,246
At 30 April 2024 3,163 1,594 54,828 19,479 79,064
DEPRECIATION
At 1 May 2023 1,685 239 6,938 15,218 24,080
Charge for year 369 339 11,972 1,054 13,734
At 30 April 2024 2,054 578 18,910 16,272 37,814
NET BOOK VALUE
At 30 April 2024 1,109 1,016 35,918 3,207 41,250
At 30 April 2023 1,478 1,355 47,890 2,015 52,738

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,206 20,693
Other debtors 10,517 6,827
36,723 27,520

Power Factor Scotland Ltd (Registered number: SC282828)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,040 5,040
Hire purchase contracts 8,506 7,316
Taxation and social security 12,386 11,090
Other creditors 2,334 2,587
28,266 26,033

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 32,180 37,013
Hire purchase contracts 34,122 43,194
66,302 80,207

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100