Registration number: 06953135

McGrievy-Smith Electrical Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

McGrievy-Smith Electrical Limited

Company Information

Directors

Mr JA Smith Mr SE McGrievy-Smith Mr JJ McGrievy-Smith

Registered office

153 Blackpool Road Lytham St Annes Lancs FY8 4AA

Accountants

McDade Roberts Accountants Ltd Chartered Accountants316 Blackpool Road Preston Lancashire PR2 3AE

McGrievy-Smith Electrical Limited

(Registration number: 06953135)
Statement of Financial Position as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	10,194	25,918
Current assets
Stocks	5	53,191	48,814
Debtors	6	890,833	787,404
Cash at bank and in hand		689,997	792,198
		1,634,021	1,628,416
Creditors: Amounts falling due within one year	7	(230,308)	(220,238)
Net current assets		1,403,713	1,408,178
Total assets less current liabilities		1,413,907	1,434,096
Provisions for liabilities		(2,549)	(6,480)
Net assets		1,411,358	1,427,616
Capital and reserves
Called up share capital		103	103
Retained earnings		1,411,255	1,427,513
Shareholders' funds		1,411,358	1,427,616

McGrievy-Smith Electrical Limited

(Registration number: 06953135)
Statement of Financial Position as at 31 August 2025 (continued)

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 26 February 2026 and signed on its behalf by:
 

......................................... Mr JA Smith Director

McGrievy-Smith Electrical Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
153 Blackpool Road
Lytham St Annes
Lancs
FY8 4AA
England

These financial statements were authorised for issue by the Board on 26 February 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover 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. Turnover 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.

Tax

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.

McGrievy-Smith Electrical Limited

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

2	Accounting policies (continued)

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.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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
Fixtures and fittings	20% on cost
Motor vehicles	20% on cost
Computer equipment	33% on cost

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

McGrievy-Smith Electrical Limited

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

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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. At each reporting date, stocks are assessed for impairment. If stocks 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 9).

McGrievy-Smith Electrical Limited

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

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	5,260	9,111	20,133	93,076	127,580
Additions	-	500	298	-	798
At 31 August 2025	5,260	9,611	20,431	93,076	128,378
Depreciation
At 1 September 2024	4,162	5,471	17,816	74,213	101,662
Charge for the year	525	1,724	1,407	12,866	16,522
At 31 August 2025	4,687	7,195	19,223	87,079	118,184
Carrying amount
At 31 August 2025	573	2,416	1,208	5,997	10,194
At 31 August 2024	1,098	3,640	2,317	18,863	25,918

5

Stocks

	2025 £	2024 £
Work in progress	33,398	30,470
Other inventories	19,793	18,344
	53,191	48,814

6

Debtors

Current	2025 £	2024 £
Trade debtors	308,035	196,634
Prepayments	3,291	3,764
Other debtors	579,507	587,006
	890,833	787,404

McGrievy-Smith Electrical Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	41,547	39,701
Taxation and social security	158,319	148,527
Accruals and deferred income	3,977	1,970
Other creditors	26,465	30,040
	230,308	220,238