REGISTERED NUMBER: SC744808 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

Pro-Elek Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

20,366

25,547

CURRENT ASSETS

Stocks

1,806

500

Cash at bank

396

91

2,202

591

CREDITORS

Amounts falling due within one year

5

(15,408

)

(8,308

)

NET CURRENT LIABILITIES

(13,206

)

(7,717

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,160

17,830

CREDITORS

Amounts falling due after more than one year

6

(12,287

)

(17,345

)

NET (LIABILITIES)/ASSETS

(5,127

)

485

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,227

)

385

(5,127

)

485

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 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 September 2025 and were signed on its behalf by:

Mr S D Ashe - Director

Mrs C L Ashe - Director

1.	STATUTORY INFORMATION

Pro-Elek Limited is a private company, limited by shares, domiciled in Scotland, registered number SC744808. The registered office is 8 Hutchison Gardens, Shotts, Scotland, ML7 5UB.

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 represents net invoiced sales of goods and services in respect of electrical installation, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on reducing balance and 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.

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.

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.

Going concern

The company is dependent on the support of its finance providers, suppliers and director to meet its working capital requirements. The company has in place an effective system which allows it to closely monitor the availability of working capital.

On the basis that the company continues to maintain a similar level of turnover then the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and on this basis the director has concluded it is appropriate to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

28,934

DEPRECIATION

At 1 October 2023

3,387

Charge for year

5,181

At 30 September 2024

8,568

NET BOOK VALUE

At 30 September 2024

20,366

At 30 September 2023

25,547

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

22,822

DEPRECIATION

At 1 October 2023

2,283

Charge for year

4,108

At 30 September 2024

6,391

NET BOOK VALUE

At 30 September 2024

16,431

At 30 September 2023

20,539

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Hire purchase contracts

3,258

3,258

Trade creditors

-

1,637

Other creditors

12,150

3,413

15,408

8,308

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Hire purchase contracts

8,687

11,945

Other creditors

3,600

5,400

12,287

17,345

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Hire purchase contracts

11,945

15,203

Balances due under hire purchase agreements are secured upon the assets to which they relate.