REGISTERED NUMBER: SC323858 (Scotland)

Financial Statements

for the Year Ended 31 December 2024

for

Urban Electrical Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

E W Nulty

SECRETARY:

Mrs J Nulty

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC323858 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

3

37,288

46,288

CURRENT ASSETS

Stocks

4

100,246

95,472

Debtors

5

356,994

361,070

Cash at bank and in hand

775,045

747,652

1,232,285

1,204,194

CREDITORS

Amounts falling due within one year

6

190,761

216,002

NET CURRENT ASSETS

1,041,524

988,192

TOTAL ASSETS LESS CURRENT LIABILITIES

1,078,812

1,034,480

CREDITORS

Amounts falling due after more than one year

7

(1,970

)

(9,378

)

PROVISIONS FOR LIABILITIES

(9,321

)

(11,571

)

NET ASSETS

1,067,521

1,013,531

CAPITAL AND RESERVES

Called up share capital

700

700

Capital redemption reserve

300

300

Retained earnings

1,066,521

1,012,531

SHAREHOLDERS' FUNDS

1,067,521

1,013,531

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 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 26 September 2025 and were signed by:

E W Nulty - Director

1.	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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Inventories

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 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

34,950

69,626

12,637

117,213

Additions

-

-

3,010

3,010

At 31 December 2024

34,950

69,626

15,647

120,223

DEPRECIATION

At 1 January 2024

31,251

29,205

10,469

70,925

Charge for year

555

10,105

1,350

12,010

At 31 December 2024

31,806

39,310

11,819

82,935

NET BOOK VALUE

At 31 December 2024

3,144

30,316

3,828

37,288

At 31 December 2023

3,699

40,421

2,168

46,288

4.

STOCKS

2024

2023

£

£

Stocks

100,246

95,472

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

188,148

177,766

Other debtors

168,846

183,304

356,994

361,070

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

7,408

6,709

Trade creditors

129,892

154,536

Tax

36,649

34,772

Social security and other taxes

3,434

3,075

VAT

10,645

14,174

Accrued expenses

2,733

2,736

190,761

216,002

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

1,970

9,378