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REGISTERED NUMBER: 06953135 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 August 2024

for

McGrievy-Smith Electrical Limited

McGrievy-Smith Electrical Limited (Registered number: 06953135)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McGrievy-Smith Electrical Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr J A Smith
Mr S McGrievy-Smith
Mr J J McGrievy-Smith





REGISTERED OFFICE: 153 Blackpool Road
Lytham St Annes
Lancs
FY8 4AA





REGISTERED NUMBER: 06953135 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

McGrievy-Smith Electrical Limited (Registered number: 06953135)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,918 38,112

CURRENT ASSETS
Stocks 5 48,814 63,682
Debtors 6 787,405 975,863
Cash at bank 792,197 591,771
1,628,416 1,631,316
CREDITORS
Amounts falling due within one year 7 220,238 351,623
NET CURRENT ASSETS 1,408,178 1,279,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,434,096

1,317,805

PROVISIONS FOR LIABILITIES 6,480 7,241
NET ASSETS 1,427,616 1,310,564

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 1,427,513 1,310,461
SHAREHOLDERS' FUNDS 1,427,616 1,310,564

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

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

McGrievy-Smith Electrical Limited (Registered number: 06953135)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mr J A Smith - Director


McGrievy-Smith Electrical Limited (Registered number: 06953135)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

McGrievy-Smith Electrical Limited is a private company, limited by shares , registered in England and Wales. 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.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
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 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.

McGrievy-Smith Electrical Limited (Registered number: 06953135)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 7,577 5,260 93,076 17,196 123,109
Additions 1,534 - - 2,937 4,471
At 31 August 2024 9,111 5,260 93,076 20,133 127,580
DEPRECIATION
At 1 September 2023 3,847 3,636 61,346 16,168 84,997
Charge for year 1,624 526 12,867 1,648 16,665
At 31 August 2024 5,471 4,162 74,213 17,816 101,662
NET BOOK VALUE
At 31 August 2024 3,640 1,098 18,863 2,317 25,918
At 31 August 2023 3,730 1,624 31,730 1,028 38,112

5. STOCKS
31.8.24 31.8.23
£    £   
Stocks 18,344 30,315
Work-in-progress 30,470 33,367
48,814 63,682

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 196,634 369,315
Other debtors 267,953 267,953
Directors' loan accounts 232,893 248,093
Tax 86,161 86,161
Prepayments 3,764 4,341
787,405 975,863

McGrievy-Smith Electrical Limited (Registered number: 06953135)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 39,699 49,198
Tax 127,581 263,651
Social security and other taxes 5,455 5,450
VAT 15,491 496
Wages creditor 16,495 18,389
Pension Creditor 982 824
Directors' loan accounts 12,565 11,965
Accrued expenses 1,970 1,650
220,238 351,623