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REGISTERED NUMBER: SC287377 (Scotland)











Unaudited Financial Statements for the Year Ended 31st July 2024

for

John Smith Electrical Services Limited

John Smith Electrical Services Limited (Registered number: SC287377)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Report of the Accountants 6

John Smith Electrical Services Limited

Company Information
for the Year Ended 31st July 2024







DIRECTORS: J A Smith
Mrs L Smith





SECRETARY: Mrs L Smith





REGISTERED OFFICE: Dalton Burn
Dalton
Lockerbie
DG11 1DT





REGISTERED NUMBER: SC287377 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

John Smith Electrical Services Limited (Registered number: SC287377)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 162,766 172,576
162,766 172,576

CURRENT ASSETS
Stocks 4,369 51,250
Debtors 6 29,958 18,924
Cash at bank and in hand 104,131 88,841
138,458 159,015
CREDITORS
Amounts falling due within one year 7 12,027 21,863
NET CURRENT ASSETS 126,431 137,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,197

309,728

PROVISIONS FOR LIABILITIES 14,614 14,180
NET ASSETS 274,583 295,548

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 274,483 295,448
SHAREHOLDERS' FUNDS 274,583 295,548

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

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

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 25th April 2025 and were signed on its behalf by:





J A Smith - Director


John Smith Electrical Services Limited (Registered number: SC287377)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

John Smith Electrical Services 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. 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 from electrical services, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2005 and 2008, is being amortised in each case evenly over its estimated useful life of ten 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.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
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 makes contributions into a recognised UK defined contribution pension scheme. Contributions payable to this scheme are charged to the income statement in the period to which they relate.

John Smith Electrical Services Limited (Registered number: SC287377)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 58,445
AMORTISATION
At 1st August 2023
and 31st July 2024 58,445
NET BOOK VALUE
At 31st July 2024 -
At 31st July 2023 -

John Smith Electrical Services Limited (Registered number: SC287377)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st August 2023 79,866 222,874 302,740
Additions - 10,770 10,770
At 31st July 2024 79,866 233,644 313,510
DEPRECIATION
At 1st August 2023 - 130,164 130,164
Charge for year - 20,580 20,580
At 31st July 2024 - 150,744 150,744
NET BOOK VALUE
At 31st July 2024 79,866 82,900 162,766
At 31st July 2023 79,866 92,710 172,576

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,958 10,993
Other debtors - 7,931
29,958 18,924

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,223 12,275
Taxation and social security 4,671 1,320
Other creditors 3,133 8,268
12,027 21,863

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 (2023 - £4,000) were paid to the directors .

At 31st July 2024, the company owed the sum of £133 (2023 - £5,468) to J.Smith by way of a director's loan. This sum is repayable on demand and no interest is charged on the amount advanced.

John Smith Electrical Services Limited

Report of the Accountants to the Directors of
John Smith Electrical Services Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st July 2024 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ


25th April 2025