REGISTERED NUMBER: SC645350 (Scotland)

Financial Statements for the Year Ended 31 October 2025

for

J Wallace Electrical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Wallace

Mrs S A Wallace

SECRETARY:

REGISTERED OFFICE:

The Steadings

Rameldry Mill Road

Kettlebridge

Cupar

Fife

KY15 7TY

REGISTERED NUMBER:

SC645350 (Scotland)

ACCOUNTANTS:

Monteaths

Cairnfield

14 School Road

Balmullo

St Andrews

Fife

KY16 0BD

FIXED ASSETS

Tangible assets

4

59,804

30,464

CURRENT ASSETS

Stocks

21,075

20,635

Debtors

5

433,232

354,654

Cash at bank

205,799

264,444

660,106

639,733

CREDITORS

Amounts falling due within one year

6

143,013

159,162

NET CURRENT ASSETS

517,093

480,571

TOTAL ASSETS LESS CURRENT LIABILITIES

576,897

511,035

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

576,797

510,935

576,897

511,035

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 July 2026 and were signed on its behalf by:

J A Wallace - Director

Mrs S A Wallace - Director

1.	STATUTORY INFORMATION

J Wallace 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" 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2024

2,781

61,875

64,656

Additions

-

56,017

56,017

Disposals

-

(28,060

)

(28,060

)

At 31 October 2025

2,781

89,832

92,613

DEPRECIATION

At 1 November 2024

2,781

31,411

34,192

Charge for year

-

17,799

17,799

Eliminated on disposal

-

(19,182

)

(19,182

)

At 31 October 2025

2,781

30,028

32,809

NET BOOK VALUE

At 31 October 2025

-

59,804

59,804

At 31 October 2024

-

30,464

30,464

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

241,097

177,238

Other debtors

192,135

177,416

433,232

354,654

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade creditors

44,795

6,110

Taxation and social security

95,791

135,470

Other creditors

2,427

17,582

143,013

159,162

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a directors loan balance of £298 (2024 - £16,876). The directors loan is interest-free and has no fixed repayment terms.