REGISTERED NUMBER: SC279952 (Scotland)

Midlothian Electrical Service Ltd.

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K J McArthur

SECRETARY:

L I McArthur

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

Lothian

EH3 6AT

REGISTERED NUMBER:

SC279952 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Royal Bank of Scotland

63 High Street

Dalkeith

EH22 1JA

FIXED ASSETS

Tangible assets

4

2,138

2,583

CURRENT ASSETS

Stocks

450

450

Debtors

5

5,364

13,490

Cash at bank and in hand

6,482

3,950

12,296

17,890

CREDITORS

Amounts falling due within one year

6

12,667

15,990

NET CURRENT (LIABILITIES)/ASSETS

(371

)

1,900

TOTAL ASSETS LESS CURRENT LIABILITIES

1,767

4,483

CREDITORS

Amounts falling due after more than one year

7

-

(1,600

)

PROVISIONS FOR LIABILITIES

(406

)

(491

)

NET ASSETS

1,361

2,392

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,261

2,292

SHAREHOLDERS' FUNDS

1,361

2,392

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 23 December 2025 and were signed by:

K J McArthur - Director

1.	STATUTORY INFORMATION

Midlothian Electrical Service 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" 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 and revenue recognition

Turnover represents invoiced sales of goods and services, net of value added tax, in respect of electrical services.

Revenue is recognised when the good or service has been delivered or completed and all obligations to the customer have been fulfilled.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

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

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.

All loans with related parties are all repayable on demand.

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.

Provisions policy

Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

40,334

Additions

727

Disposals

(6,311

)

At 31 March 2025

34,750

DEPRECIATION

At 1 April 2024

37,751

Charge for year

1,172

Eliminated on disposal

(6,311

)

At 31 March 2025

32,612

NET BOOK VALUE

At 31 March 2025

2,138

At 31 March 2024

2,583

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

5,364

10,409

Other debtors

-

3,081

5,364

13,490

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

3,589

3,599

Trade creditors

3,086

8,039

Taxation and social security

1,032

2,783

Other creditors

4,960

1,569

12,667

15,990

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

1,600

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

K J McArthur and K J McArthur

Balance outstanding at start of year

(49

)

(591

)

Amounts advanced

781

699

Amounts repaid

(4,092

)

(157

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,360

)

(49

)