Company Registration No. SC284946 (Scotland)
Derek Brown Electrical Services Ltd
Unaudited accounts
for the year ended 31 May 2024
Derek Brown Electrical Services Ltd
Unaudited accounts
Contents
Derek Brown Electrical Services Ltd
Company Information
for the year ended 31 May 2024
Directors
Mr D Brown
Mrs K Brown
Company Number
SC284946 (Scotland)
Registered Office
2 George Crescent
Ormiston
East Lothian
EH35 5JD
Accountants
GF Accountancy Services Ltd
4 Rowanhill Way
Port Seton
East Lothian
EH32 0SZ
Derek Brown Electrical Services Ltd
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
36,948
30,961
Creditors: amounts falling due within one year
(9,843)
(8,236)
Net current assets
32,540
27,370
Called up share capital
100
100
Profit and loss account
32,734
28,080
Shareholders' funds
32,834
28,180
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by
Mr D Brown
Director
Company Registration No. SC284946
Derek Brown Electrical Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
Derek Brown Electrical Services Ltd is a private company, limited by shares, registered in Scotland, registration number SC284946. The registered office is 2 George Crescent, Ormiston, East Lothian , EH35 5JD.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill 10% Straight line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Computer equipment
33% straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Derek Brown Electrical Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).