REGISTERED NUMBER: SC762954 (Scotland)

R Wilson and Son Electrical Limited

Unaudited Financial Statements

for the Year Ended 31st March 2025

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

7

Directors:

M Wilson

Miss L M McBarron

Registered office:

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Business address:

15 Roberts Grove

Galashiels

Selkirkshire

TD1 2BJ

Registered number:

SC762954 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Tangible assets

4

46,160

40,758

Current assets

Stocks

500

500

Debtors

5

70,567

62,617

Cash at bank

1,517

9,146

72,584

72,263

Creditors

Amounts falling due within one year

6

73,910

69,544

Net current (liabilities)/assets

(1,326

)

2,719

Total assets less current liabilities

44,834

43,477

Creditors

Amounts falling due after more than one year

7

(11,306

)

(10,751

)

Provisions for liabilities

(8,770

)

(7,744

)

Net assets

24,758

24,982

Capital and reserves

Called up share capital

100

100

Retained earnings

24,658

24,882

24,758

24,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 September 2025 and were signed on its behalf by:

M Wilson - Director

1.	Statutory information

R Wilson and Son Electrical 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, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from electrical work is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts, bank overdraft and directors' loans.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, bank overdraft and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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

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 shorter.

The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability.

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 set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern

The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was 4 (2024 - 3 ) .

4.	Tangible fixed assets

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

£

£

£

Cost

At 1st April 2024

1,768

50,707

402

52,877

Additions

645

19,600

-

20,245

At 31st March 2025

2,413

70,307

402

73,122

Depreciation

At 1st April 2024

406

11,621

92

12,119

Charge for year

502

14,263

78

14,843

At 31st March 2025

908

25,884

170

26,962

Net book value

At 31st March 2025

1,505

44,423

232

46,160

At 31st March 2024

1,362

39,086

310

40,758

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

32,096

37,624

Other debtors

38,471

24,993

70,567

62,617

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

20,047

4,136

Hire purchase contracts

10,043

11,894

Trade creditors

27,386

33,167

Taxation and social security

13,687

19,147

Other creditors

2,747

1,200

73,910

69,544

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Hire purchase contracts

11,306

10,751

8.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

21,349

22,645

Hire purchase contracts are secured against the assets to which they relate.

9.	Directors' advances, credits and guarantees

The following advances and credits to the director subsisted during the years ended 31st March 2025 and 31st March 2024.

Director

2025

2024

Balance outstanding at start of year

24,993

-

Amounts advanced

40,998

97,832

Amount repaid

(27,520

)

(72,839

)

38,471

24,993

This loan is unsecured, interest has been charged at the official rates published by HMRC and it is repayable on demand.

10.	Post balance sheet events

Since the year end, on 19th September 2025, an interim dividend for the year ended 31st March 2026 of £385 per share has been declared.