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REGISTERED NUMBER: SC246909 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

DENNIS GORDON ELECTRICAL LIMITED

DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DENNIS GORDON ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: G L Gordon





SECRETARY: Mrs K Gordon





REGISTERED OFFICE: 68 High Street
Fraserburgh
AB43 9HP





REGISTERED NUMBER: SC246909 (Scotland)

DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 98,697 101,858
98,697 101,858

CURRENT ASSETS
Stocks 44,300 54,500
Debtors 7 736,079 720,253
Cash at bank and in hand 567,784 488,564
1,348,163 1,263,317
CREDITORS
Amounts falling due within one year 8 584,293 550,984
NET CURRENT ASSETS 763,870 712,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

862,567

814,191

CREDITORS
Amounts falling due after more than one
year

9

(54,611

)

(100,984

)

PROVISIONS FOR LIABILITIES (24,279 ) (25,200 )
NET ASSETS 783,677 688,007

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 783,577 687,907
SHAREHOLDERS' FUNDS 783,677 688,007

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

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

DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

BALANCE SHEET - continued
31 MARCH 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 28 November 2024 and were signed by:





G L Gordon - Director


DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Dennis Gordon Electrical Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on reducing balance, 25% on reducing balance and 10% 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.


DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
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.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 36 ) .

DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 310,430
Additions 43,135
Disposals (22,260 )
At 31 March 2024 331,305
DEPRECIATION
At 1 April 2023 208,572
Charge for year 28,442
Eliminated on disposal (4,406 )
At 31 March 2024 232,608
NET BOOK VALUE
At 31 March 2024 98,697
At 31 March 2023 101,858

DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 79,293
Additions 41,853
Disposals (22,260 )
Transfer to ownership (16,483 )
At 31 March 2024 82,403
DEPRECIATION
At 1 April 2023 17,328
Charge for year 16,721
Eliminated on disposal (4,406 )
Transfer to ownership (7,984 )
At 31 March 2024 21,659
NET BOOK VALUE
At 31 March 2024 60,744
At 31 March 2023 61,965

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 459,094 534,520
Amounts recoverable on contract 174,475 131,551
Other debtors 102,510 54,182
736,079 720,253

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,685 41,864
Hire purchase contracts (see note 10) 12,718 12,358
Trade creditors 283,017 254,562
Taxation and social security 133,288 126,182
Other creditors 113,585 116,018
584,293 550,984

DENNIS GORDON ELECTRICAL LIMITED (REGISTERED NUMBER: SC246909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 39,394 81,586
Hire purchase contracts (see note 10) 15,217 19,398
54,611 100,984

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 12,718 12,358
Between one and five years 15,217 19,398
27,935 31,756

Non-cancellable operating leases
2024 2023
£    £   
Between one and five years 5,401 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 81,079 123,450
Hire purchase contracts 27,935 31,756
109,014 155,206

12. PENSION COMMITMENTS

Included within Other creditors are outstanding pension contributions of £4,398 (2023 - £4,645).

13. ULTIMATE CONTROLLING PARTY

During the current and previous year the company was controlled by Mr & Mrs G L Gordon who own all the issued share capital.