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MCPAKE ELECTRICAL LIMITED

Registered Number
SC560087
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

MCPAKE ELECTRICAL LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Katarina McPake
Robert McPake

Registered Address

1 Smith Quadrant
Coatbridge
ML5 3QE

Registered Number

SC560087 (Scotland)
MCPAKE ELECTRICAL LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3128,20284,219
128,20284,219
Current assets
Debtors4322,829181,624
Cash at bank and on hand142,585184,765
465,414366,389
Creditors amounts falling due within one year5(141,172)(132,651)
Net current assets (liabilities)324,242233,738
Total assets less current liabilities452,444317,957
Creditors amounts falling due after one year6(27,227)-
Net assets425,217317,957
Capital and reserves
Called up share capital100100
Profit and loss account425,117317,857
Shareholders' funds425,217317,957
The financial statements were approved and authorised for issue by the Board of Directors on 2 March 2025, and are signed on its behalf by:
Robert McPake
Director
Registered Company No. SC560087
MCPAKE ELECTRICAL LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings25
Plant and machinery4
Vehicles4
Office Equipment3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year23
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23126,781
Additions114,101
Disposals(44,741)
At 31 March 24196,142
Depreciation and impairment
At 01 April 2342,562
Charge for year39,883
On disposals(14,506)
At 31 March 2467,940
Net book value
At 31 March 24128,202
At 31 March 2384,219
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables232,860128,615
Amounts owed by group undertakings47,74110,000
Other debtors42,22843,009
Total322,829181,624
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables75018,750
Bank borrowings and overdrafts22,50032,500
Taxation and social security100,87773,269
Finance lease and HP contracts12,0045,419
Other creditors2,542213
Accrued liabilities and deferred income2,4992,500
Total141,172132,651
6.Creditors: amounts due after one year

2024

2023

££
Other creditors27,227-
Total27,227-
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts27,227-
8.Share capital
Alloted, issued and fully paid: 100 Ordinary at nominal value of £1 = £100