B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025

1	General information

B.G.I. (Electrical) Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page .

2	Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors are satisfied that with the continued support of the directors and investors that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the company’s financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	33% - straight line
Fixtures, fittings & equipment	33% - straight line
Motor vehicles	20% - reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.The cost of finished goods and work in progress comprises direct materials and, where applicable,direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 5).

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

4	Property, plant and equipment

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	26,317	100,161	126,478
Additions	1,583	-	1,583
At 31 August 2025	27,900	100,161	128,061
Depreciation
At 1 September 2024	23,192	38,280	61,472
Charge for the year	1,569	12,376	13,945
At 31 August 2025	24,761	50,656	75,417
Carrying amount
At 31 August 2025	3,139	49,505	52,644
At 31 August 2024	3,125	61,881	65,006

5	Inventories

	2025 £	2024 £
Other inventories	2,500	2,500

6	Receivables

	2025 £	2024 £
Trade receivables	39,174	78,664
Other receivables	22,756	22,014
Prepayments	3,163	11,752
Accrued income	-	22,874
	65,093	135,304

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

7	Cash and cash equivalents

	2025 £	2024 £
Cash at bank	37,830	56,602

8

Payables

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	12	14,508	14,508
Trade payables		11,379	21,895
Social security and other taxes		1,960	1,268
Outstanding defined contribution pension costs		271	266
Other payables		3,166	1,501
Accruals		3,673	3,497
		34,957	42,935
Due after one year
Loans and borrowings	12	6,256	20,764

9	Provisions for liabilities

	Deferred tax £	Total £
At 1 September 2024	16,252	16,252
Increase (decrease) in existing provisions	(8,631)	(8,631)
At 31 August 2025	7,621	7,621

10	Pension scheme

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £1,696 (2024 - £2,289).

Contributions totalling £271 (2024 - £266) were payable to the scheme at the end of the year and are included in payables.

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

11	Share capital and reserves

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	200	200	200	200

The company has one class of share capital which carries no right to fixed income.

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

B.G.I. (Electrical) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

12	Loans and borrowings

	2025 £	2024 £
Non-current loans and borrowings
Bank borrowings	2,500	12,500
Hire purchase contracts	3,756	8,264
	6,256	20,764

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	10,000	10,000
Hire purchase contracts	4,508	4,508
	14,508	14,508