Intelligent Electrical Solutions Scotland Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Intelligent Electrical Solutions Scotland Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC519622 . The registered office is Unit 15 Darrows Industrial Estate, 34 John Brannan Way, Bellshill, Lanarkshire, ML4 3HD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20%
Motor Vehicles	20%
Fixtures & Fittings	20%
Computer Equipment	100%

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Intelligent Electrical Solutions Scotland Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 25 (2024: 26)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	9,608	153,722	7,370	12,717	183,417
Additions	566	-	-	-	566

As at 31 March 2025	10,174	153,722	7,370	12,717	183,983

Depreciation
As at 1 April 2024	6,845	58,007	3,645	12,717	81,214
Provided during the period	631	19,142	745	-	20,518

As at 31 March 2025	7,476	77,149	4,390	12,717	101,732

Net Book Value
As at 31 March 2025	2,698	76,573	2,980	-	82,251

As at 1 April 2024	2,763	95,715	3,725	-	102,203

5. Stocks

	2025	2024
	£	£
Work in progress	19,875	26,162

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Intelligent Electrical Solutions Scotland Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	452,689	531,164
VAT	27,428	56,621
Amounts owed by associates	17,668	15,046

	497,785	602,831

7. Current Asset Investments

	2025	2024
	£	£
Short term deposits	2,558	2,549

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	22,135	25,901
Trade creditors	244,003	449,921
Bank loans and overdrafts	10,202	10,202
Corporation tax	24,922	20,333
Other taxes and social security	27,307	26,951
Other creditors (1)	119,172	5,099
Accruals and deferred income	126,045	100,064
Directors' loan accounts	36,669	35,169

	610,455	673,640

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	28,084	50,496
Bank loans	2,298	12,298

	30,382	62,794

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	22,135	25,901
Later than one year and not later than five years	28,084	50,496

	50,219	76,397

	50,219	76,397

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Intelligent Electrical Solutions Scotland Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		82,251		102,203

			82,251		102,203
CURRENT ASSETS
Stocks	5	19,875		26,162
Debtors	6	497,785		602,831
Investments	7	2,558		2,549
Cash at bank and in hand		312,921		204,596

		833,139		836,138
Creditors: Amounts Falling Due Within One Year	8	(610,455 )		(673,640 )

NET CURRENT ASSETS (LIABILITIES)			222,684		162,498

TOTAL ASSETS LESS CURRENT LIABILITIES			304,935		264,701

Creditors: Amounts Falling Due After More Than One Year	9		(30,382 )		(62,794 )

NET ASSETS			274,553		201,907

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			274,453		201,807

SHAREHOLDERS' FUNDS			274,553		201,907