General Information
A.C. Electrics (Cleland) Ltd. is a private company, limited by shares, registered in Scotland, registration number SC269237, registration address 8a Main Street, Cleland, Motherwell, ML1 5QN.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a reducing balance basis over the estimated expected useful economic life of the goodwill at a rate of 2% per annum.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
25% Reducing Balance
|
| Land and buildings |
2% Reducing Balance |
| Motor Vehicles |
20% Reducing Balance
|
| Plant and machinery |
25% Reducing Balance
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 14 (2024 : 13).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
50,000 |
|
50,000 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
50,000 |
|
50,000 |
| Amortisation |
| At 01 April 2024 |
42,656 |
|
42,656 |
| Charge for year |
735 |
|
735 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
43,391 |
|
43,391 |
| Net book values |
| At 31 March 2025 |
6,609 |
|
6,609 |
| At 31 March 2024 |
7,344 |
|
7,344 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Land and buildings |
|
Plant and machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
285,000 |
|
20,174 |
|
287,135 |
|
9,673 |
|
601,982 |
| Additions |
- |
|
4,643 |
|
18,833 |
|
- |
|
23,476 |
| Disposals |
- |
|
- |
|
(23,347) |
|
- |
|
(23,347) |
| At 31 March 2025 |
285,000 |
|
24,817 |
|
282,621 |
|
9,673 |
|
602,111 |
| Depreciation |
| At 01 April 2024 |
73,553 |
|
13,973 |
|
207,630 |
|
8,834 |
|
303,990 |
| Charge for year |
4,228 |
|
2,711 |
|
18,038 |
|
210 |
|
25,187 |
| On disposals |
- |
|
- |
|
(21,945) |
|
- |
|
(21,945) |
| At 31 March 2025 |
77,781 |
|
16,684 |
|
203,723 |
|
9,044 |
|
307,232 |
| Net book values |
| Closing balance as at 31 March 2025 |
207,219 |
|
8,133 |
|
78,898 |
|
629 |
|
294,879 |
| Opening balance as at 01 April 2024 |
211,447 |
|
6,201 |
|
72,760 |
|
839 |
|
291,247 |
|
| 5. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
4
Class A shares of £1.00 each |
4 |
|
4 |
|
4 |
|
4 |
|
3
|