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REGISTERED NUMBER: SC542104 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PITMEDDEN ELECTRICAL SERVICES LTD

PITMEDDEN ELECTRICAL SERVICES LTD (REGISTERED NUMBER: SC542104)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

PITMEDDEN ELECTRICAL SERVICES LTD

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTOR: C Robertson





REGISTERED OFFICE: C/o Acumen Accountants & Advisors Ltd
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX





REGISTERED NUMBER: SC542104 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

PITMEDDEN ELECTRICAL SERVICES LTD (REGISTERED NUMBER: SC542104)

STATEMENT OF FINANCIAL POSITION
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,780 9,040
Tangible assets 5 19,193 106
25,973 9,146

CURRENT ASSETS
Debtors 6 57,332 54,729
Cash at bank 6,964 10,300
64,296 65,029
CREDITORS
Amounts falling due within one year 7 41,455 44,522
NET CURRENT ASSETS 22,841 20,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,814

29,653

CREDITORS
Amounts falling due after more than one year 8 (23,158 ) (18,804 )

PROVISIONS FOR LIABILITIES 9 (3,465 ) -
NET ASSETS 22,191 10,849

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,091 10,749
SHAREHOLDERS' FUNDS 22,191 10,849

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

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

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 9 April 2025 and were signed by:





C Robertson - Director


PITMEDDEN ELECTRICAL SERVICES LTD (REGISTERED NUMBER: SC542104)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Pitmedden Electrical Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of VAT.

In respect of construction industry contracts, where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised by reference to the stage of completion of contract activity at the balance sheet date. This is normally measured by surveys of work performed to date.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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 statement of financial position date.

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.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

3. EMPLOYEES AND DIRECTORS

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

PITMEDDEN ELECTRICAL SERVICES LTD (REGISTERED NUMBER: SC542104)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 22,600
AMORTISATION
At 1 October 2023 13,560
Amortisation for year 2,260
At 30 September 2024 15,820
NET BOOK VALUE
At 30 September 2024 6,780
At 30 September 2023 9,040

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 308 - 680 988
Additions - 22,924 - 22,924
At 30 September 2024 308 22,924 680 23,912
DEPRECIATION
At 1 October 2023 202 - 680 882
Charge for year 16 3,821 - 3,837
At 30 September 2024 218 3,821 680 4,719
NET BOOK VALUE
At 30 September 2024 90 19,103 - 19,193
At 30 September 2023 106 - - 106

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 22,554
At 30 September 2024 22,554
DEPRECIATION
Charge for year 3,759
At 30 September 2024 3,759
NET BOOK VALUE
At 30 September 2024 18,795

PITMEDDEN ELECTRICAL SERVICES LTD (REGISTERED NUMBER: SC542104)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,399 -
Retentions 19,972 17,798
Other debtors 4,390 2,849
VAT 4,398 12,441
Prepayments and accrued income 16,173 21,641
57,332 54,729

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,080 9,180
Hire purchase contracts 3,545 -
Trade creditors 23,297 27,779
Tax - 1,762
Pensions payable 739 739
Other creditors - 270
Directors' current accounts 4,794 4,792
41,455 44,522

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,412 9,077
Bank loans - 2-5 years - 9,727
Hire purchase contracts 13,746 -
23,158 18,804

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,465 -

Deferred
tax
£   
Provided during year 3,465
Balance at 30 September 2024 3,465

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
C Robertson
Balance outstanding at start of year (4,791 ) (3,629 )
Amounts advanced 310 240
Amounts repaid (312 ) (1,402 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,793 ) (4,791 )

PITMEDDEN ELECTRICAL SERVICES LTD (REGISTERED NUMBER: SC542104)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PITMEDDEN ELECTRICAL SERVICES LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pitmedden Electrical Services Ltd for the year ended 30 September 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Pitmedden Electrical Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pitmedden Electrical Services Ltd and state those matters that we have agreed to state to the director of Pitmedden Electrical Services Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Pitmedden Electrical Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pitmedden Electrical Services Ltd. You consider that Pitmedden Electrical Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pitmedden Electrical Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


9 April 2025