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REGISTERED NUMBER: SC125061 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

John Heaney (Electrical) Limited

John Heaney (Electrical) Limited (Registered number: SC125061)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


John Heaney (Electrical) Limited (Registered number: SC125061)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 126,420 156,433

CURRENT ASSETS
Stocks 20,324 224,860
Debtors 5 907,858 2,834,809
Cash at bank and in hand 1,920,613 469,757
2,848,795 3,529,426
CREDITORS
Amounts falling due within one year 6 (1,524,207 ) (2,522,023 )
NET CURRENT ASSETS 1,324,588 1,007,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,451,008

1,163,836

CREDITORS
Amounts falling due after more than one
year

7

-

(180,022

)

PROVISIONS FOR LIABILITIES (18,745 ) (21,086 )
NET ASSETS 1,432,263 962,728

CAPITAL AND RESERVES
Called up share capital 103,667 103,667
Share premium 88,513 88,513
Retained earnings 1,240,083 770,548
SHAREHOLDERS' FUNDS 1,432,263 962,728

John Heaney (Electrical) Limited (Registered number: SC125061)

Balance Sheet - continued
31 December 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





Mark Heaney - Director


John Heaney (Electrical) Limited (Registered number: SC125061)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

John Heaney (Electrical) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC125061. The registered office is 4 Cochrane Square, Brucefield Industry Park, Livingston, West Lothian EH54 9DR.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to stage of completion.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on cost
Furniture and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


John Heaney (Electrical) Limited (Registered number: SC125061)

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

2. ACCOUNTING POLICIES - continued
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 held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Operating lease agreements
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2023 - 64 ) .

John Heaney (Electrical) Limited (Registered number: SC125061)

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

4. TANGIBLE FIXED ASSETS
Furniture
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2024 103,245 141,954 13,817
Additions - 20,068 3,347
Disposals - (52,041 ) (5,905 )
At 31 December 2024 103,245 109,981 11,259
DEPRECIATION
At 1 January 2024 31,155 89,382 9,309
Charge for year 20,649 19,344 2,129
Eliminated on disposal - (49,400 ) (5,336 )
At 31 December 2024 51,804 59,326 6,102
NET BOOK VALUE
At 31 December 2024 51,441 50,655 5,157
At 31 December 2023 72,090 52,572 4,508

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 64,770 117,570 441,356
Additions - 7,733 31,148
Disposals (64,770 ) (65,919 ) (188,635 )
At 31 December 2024 - 59,384 283,869
DEPRECIATION
At 1 January 2024 56,015 99,062 284,923
Charge for year 8,809 7,119 58,050
Eliminated on disposal (64,824 ) (65,964 ) (185,524 )
At 31 December 2024 - 40,217 157,449
NET BOOK VALUE
At 31 December 2024 - 19,167 126,420
At 31 December 2023 8,755 18,508 156,433

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 855,803 2,789,224
Other debtors 52,055 45,585
907,858 2,834,809

John Heaney (Electrical) Limited (Registered number: SC125061)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts - 79,992
Trade creditors 535,244 594,211
Taxation and social security 555,747 608,410
Other creditors 433,216 1,239,410
1,524,207 2,522,023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans - 180,022

8. ULTIMATE PARENT ENTITY

The ultimate parent entity is Heaney Holdings Limited.

Heaney Holdings Limited is registered in Scotland under registration number SC743454. The registered office is 4 Cochrane Square, Brucefield Industry Park, Livingston, West Lothian, Scotland, EH54 9DR.