REGISTERED NUMBER: SC037551 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

A Alexander & Son (Electrical) Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

8

Balance Sheet

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

13

DIRECTORS:

Mr J K Alexander

Mrs M F Alexander

Mr S M Alexander

Mr B Diamond

Mrs L A Alexander

Mr D Hart

SECRETARY:

Mrs M F Alexander

REGISTERED OFFICE:

9 Cathkinview Road

Glasgow

G42 9EH

REGISTERED NUMBER:

SC037551 (Scotland)

AUDITORS:

Messrs. Henderson & Company

Chartered Accountants

Statutory Auditor

73 Union Street

Greenock

PA16 8BG

SOLICITORS:

Mitchells Roberton

George House

36 North Hanover Street

Glasgow

G1 2AD

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Our principal objective for the year ending 31 March 2025 was to maintain our trend of business stability and controlled growth. The financial statements show a 20.7% growth in turnover and a 110% increase in profit before taxation, demonstrating that our objectives have been successfully achieved.

PRINCIPAL RISKS AND UNCERTAINTIES

Our marketplace continues to face pressures relating to an unstable cost base and the availability of resources. The board are confident that our approach to delivering a quality product and adopting a partnering approach with our customer base have been key to managing these risks.

The availability of future labour resources continues to be a significant risk, and our ongoing commitment to nationally recognised apprenticeships is vital in the management of this.

KEY PERFORMANCE INDICATORS

The company has established financial system in place which enables the directors to monitor trading and margins on a monthly basis. The directors consider that the key performance indicators are turnover and gross profit margin and these are monitored on both a company level and individual project level.

ON BEHALF OF THE BOARD:

Mr S M Alexander - Director

23 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of electrical and mechanical contractors.

DIVIDENDS

An interim dividend of £87.50 per share was paid on 19 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 70,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr J K Alexander

Mrs M F Alexander

Mr S M Alexander

Mr B Diamond

Mrs L A Alexander

Other changes in directors holding office are as follows:

Mr D Hart was appointed as a director after 31 March 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Messrs. Henderson & Company, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs M F Alexander - Secretary

23 December 2025

Opinion

We have audited the financial statements of A Alexander & Son (Electrical) Ltd (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risks of material misstatements due to irregularities, including fraud and non-compliance with laws and regulations we considered the nature of the company and the industry and the company's control environment. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the company such as the Companies Act 2006, taxation legislation, employment and health and safety legislation and other relevant legislation. We assessed the extent of compliance with laws and regulations identified through making enquiries of management, inspecting any relevant legal correspondence and correspondence with HMRC.

We considered management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management bias, particularly regarding the year end valuations of work in progress, and override of controls. To address these risks we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias. We reviewed financial statement disclosures and tested balances to supporting documentation.

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Henderson (Senior Statutory Auditor)

for and on behalf of Messrs. Henderson & Company

Chartered Accountants

Statutory Auditor

73 Union Street

Greenock

PA16 8BG

23 December 2025

TURNOVER

13,068,562

10,823,711

Cost of sales

10,322,470

8,783,124

GROSS PROFIT

2,746,092

2,040,587

Administrative expenses

1,981,576

1,666,412

764,516

374,175

Other operating income

24,044

5,876

OPERATING PROFIT

4

788,560

380,051

Interest receivable and similar income

211

-

788,771

380,051

Amounts written off investments

5

1

-

788,770

380,051

Interest payable and similar expenses

6

17,830

13,245

PROFIT BEFORE TAXATION

770,940

366,806

Tax on profit

7

202,646

101,095

PROFIT FOR THE FINANCIAL YEAR

568,294

265,711

Retained earnings at beginning of year

1,596,994

1,343,783

Dividends

8

(70,000

)

(12,500

)

RETAINED EARNINGS AT END OF YEAR

2,095,288

1,596,994

FIXED ASSETS

Tangible assets

9

784,634

704,116

Investments

10

-

1

784,634

704,117

CURRENT ASSETS

Stocks

11

14,566

43,840

Debtors

12

3,098,797

2,340,299

Cash at bank and in hand

765,723

581,186

3,879,086

2,965,325

CREDITORS

Amounts falling due within one year

13

2,141,101

1,653,593

NET CURRENT ASSETS

1,737,985

1,311,732

TOTAL ASSETS LESS CURRENT LIABILITIES

2,522,619

2,015,849

CREDITORS

Amounts falling due after more than one year

14

(148,546

)

(162,304

)

PROVISIONS FOR LIABILITIES

17

(102,209

)

(79,975

)

NET ASSETS

2,271,864

1,773,570

CAPITAL AND RESERVES

Called up share capital

18

800

800

Revaluation reserve

175,776

175,776

Retained earnings

2,095,288

1,596,994

SHAREHOLDERS' FUNDS

2,271,864

1,773,570

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

Mr J K Alexander - Director

Mr S M Alexander - Director

Cash flows from operating activities

Cash generated from operations

1

585,390

560,240

Interest paid

(2,844

)

(1,669

)

Interest element of hire purchase payments paid

(14,986

)

(11,576

)

Tax paid

(81,348

)

(27,672

)

Net cash from operating activities

486,212

519,323

Cash flows from investing activities

Purchase of tangible fixed assets

(95,376

)

(96,202

)

Sale of tangible fixed assets

35,428

68,891

Interest received

211

-

Net cash from investing activities

(59,737

)

(27,311

)

Cash flows from financing activities

New loans in year

-

42,743

Loan repayments in year

(52,767

)

(22,204

)

Capital repayments in year

(119,171

)

(99,673

)

Equity dividends paid

(70,000

)

(12,500

)

Net cash from financing activities

(241,938

)

(91,634

)

Increase in cash and cash equivalents

184,537

400,378

Cash and cash equivalents at beginning of year

2

581,186

180,808

Cash and cash equivalents at end of year

2

765,723

581,186

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

£

£

Profit before taxation

770,940

366,806

Depreciation charges

190,690

145,392

Profit on disposal of fixed assets

(35,427

)

(65,274

)

Finance costs

17,830

13,245

Finance income

(211

)

-

943,822

460,169

Decrease/(increase) in stocks

29,274

(2,503

)

Increase in trade and other debtors

(758,498

)

(428,792

)

Increase in trade and other creditors

370,792

531,366

Cash generated from operations

585,390

560,240

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

765,723

581,186

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

581,186

180,808

3.	ANALYSIS OF CHANGES IN NET FUNDS

Other

non-cash

At 1.4.24

Cash flow

changes

At 31.3.25

£

£

£

£

Net cash

Cash at bank

and in hand

581,186

184,537

765,723

581,186

184,537

765,723

Debt

Finance leases

(198,783

)

119,171

(175,833

)

(255,445

)

Debts falling due

within 1 year

(30,775

)

14,661

-

(16,114

)

Debts falling due

after 1 year

(65,758

)

38,106

-

(27,652

)

(295,316

)

171,938

(175,833

)

(299,211

)

Total

285,870

356,475

(175,833

)

466,512

1.	STATUTORY INFORMATION

A Alexander & Son (Electrical) Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the company is a going concern.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements and estimates about the carrying value of assets and liabilities where values are not readily apparent from other sources. The estimates and judgements are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Valuation of amounts recoverable on contracts

The amount due form customers for contract work is recorded as the costs incurred to the balance sheet date, plus recognised profits, less recognised losses and progress billings.

Turnover

Turnover represents the net invoice value of work done. Profit attributable to the stage of completion of a long term contract is recognised when the outcome of the contract can be foreseen with reasonable certainty. Turnover for such contracts is recognised relative to the state of completion. Provision is made for any losses as soon as they are foreseen,

Amounts recoverable on contracts are included in debtors and represent turnover recognised in excess of payments to account.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

4% on reducing balance

Plant and machinery

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on reducing balance

The company has adopted a policy of revaluation in respect of freehold property.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Amounts recoverable on contracts

When the outcome of a long term contract can be foreseen with reasonable certainty revenue is recognised with reference to the stage of completion of the contract. Any losses are provided for in full when identified.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

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.

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.

Cash at bank

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

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 on the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

3,190,831

2,751,395

Social security costs

295,645

250,310

Other pension costs

125,702

69,970

3,612,178

3,071,675

The average number of employees during the year was as follows:

31.3.25

31.3.24

Technical

52

73

Management and administration

15

16

67

89

31.3.25

31.3.24

£

£

Directors' remuneration

159,158

161,815

Directors' pension contributions to money purchase schemes

64,955

9,909

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

3

3

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Depreciation - owned assets

190,691

145,392

Profit on disposal of fixed assets

(35,428

)

(65,274

)

Auditors' remuneration

3,000

-

5.

AMOUNTS WRITTEN OFF INVESTMENTS

31.3.25

31.3.24

£

£

Investments written off

1

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Bank loan interest

442

66

Loan interest

2,402

1,603

Hire purchase

14,986

11,576

17,830

13,245

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

180,412

81,349

Deferred tax

22,234

19,746

Tax on profit

202,646

101,095

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.25

31.3.24

£

£

Profit before tax

770,940

366,806

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

192,735

91,702

Effects of:

Expenses not deductible for tax purposes

9,911

9,393

Total tax charge

202,646

101,095

8.

DIVIDENDS

31.3.25

31.3.24

£

£

Interim

70,000

12,500

9.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

350,000

108,188

132,976

Additions

-

1,870

3,340

Disposals

-

-

-

At 31 March 2025

350,000

110,058

136,316

DEPRECIATION

At 1 April 2024

-

38,308

126,781

Charge for year

-

2,870

1,457

Eliminated on disposal

-

-

-

At 31 March 2025

-

41,178

128,238

NET BOOK VALUE

At 31 March 2025

350,000

68,880

8,078

At 31 March 2024

350,000

69,880

6,195

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

688,121

67,562

1,346,847

Additions

257,084

8,915

271,209

Disposals

(117,149

)

-

(117,149

)

At 31 March 2025

828,056

76,477

1,500,907

DEPRECIATION

At 1 April 2024

416,697

60,945

642,731

Charge for year

181,247

5,117

190,691

Eliminated on disposal

(117,149

)

-

(117,149

)

At 31 March 2025

480,795

66,062

716,273

NET BOOK VALUE

At 31 March 2025

347,261

10,415

784,634

At 31 March 2024

271,424

6,617

704,116

The written down value of tangible fixed assets includes £316,863.50 (2024 - £239,874.86) in respect of fixed assets under hire purchase agreements.