Advanced Electrics Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC100047

Advanced Electrics Limited

Filleted Unaudited Financial Statements

31 July 2025

Advanced Electrics Limited

Statement of Financial Position

31 July 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	176,878	139,149

Current assets

Stocks		343,000	193,025
Debtors	6	614,271	1,333,381
Cash at bank and in hand		1,534,667	963,091
		------------	------------
		2,491,938	2,489,497

Creditors: amounts falling due within one year	7	508,163	893,005
		------------	------------
Net current assets		1,983,775	1,596,492
		------------	------------
Total assets less current liabilities		2,160,653	1,735,641

Provisions	26,332	25,958
	------------	------------
Net assets	2,134,321	1,709,683
	------------	------------

Capital and reserves

Called up share capital	7	7
Profit and loss account	2,134,314	1,709,676
	------------	------------
Shareholders funds	2,134,321	1,709,683
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Advanced Electrics Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

Mr A J Green
Director

Company registration number: SC100047

Advanced Electrics Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit Q1, Isla Bank Mills, Station Road, Keith, AB55 5DD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property	-	No depreciation charged
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2024: 25 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Aug 2024	37,566	125,884	18,820	500,169	41,504	723,943
Additions	–	3,255	–	110,916	–	114,171
Disposals	–	–	–	( 37,497)	–	( 37,497)
	--------	---------	--------	---------	--------	---------
At 31 Jul 2025	37,566	129,139	18,820	573,588	41,504	800,617
	--------	---------	--------	---------	--------	---------
Depreciation
At 1 Aug 2024	36,447	118,380	18,820	371,143	40,004	584,794
Charge for the year	–	1,614	–	55,372	1,000	57,986
Disposals	–	–	–	( 19,041)	–	( 19,041)
	--------	---------	--------	---------	--------	---------
At 31 Jul 2025	36,447	119,994	18,820	407,474	41,004	623,739
	--------	---------	--------	---------	--------	---------
Carrying amount
At 31 Jul 2025	1,119	9,145	–	166,114	500	176,878
	--------	---------	--------	---------	--------	---------
At 31 Jul 2024	1,119	7,504	–	129,026	1,500	139,149
	--------	---------	--------	---------	--------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	485,738	771,622
Other debtors	128,533	561,759
	---------	------------
	614,271	1,333,381
	---------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	55,132	48,288
Corporation tax	259,658	159,638
Social security and other taxes	132,803	221,521
Other creditors	60,570	463,558
	---------	---------
	508,163	893,005
	---------	---------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A J Green	308,857	–	( 308,857)	–
	---------	----	---------	----

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A J Green	374,589	3,268	( 69,000)	308,857
	---------	-------	--------	---------

9. Related party transactions

The amount of dividends paid to the director during the year was £347,719 (2024 £0).