REGISTERED NUMBER: SC207848 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

MAGNUS ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Murray

REGISTERED OFFICE:

6-8 Achamore Road

Glasgow

G15 8QS

REGISTERED NUMBER:

SC207848 (Scotland)

ACCOUNTANTS:

Kean Jarman & Company

Chartered Accountants

27 Ingram Street

Glasgow

G1 1HA

FIXED ASSETS

Tangible assets

4

200,719

237,687

CURRENT ASSETS

Stocks

315,814

170,644

Debtors

5

542,179

486,174

Cash at bank

1,562,391

1,656,449

2,420,384

2,313,267

CREDITORS

Amounts falling due within one year

6

992,823

878,424

NET CURRENT ASSETS

1,427,561

1,434,843

TOTAL ASSETS LESS CURRENT LIABILITIES

1,628,280

1,672,530

CREDITORS

Amounts falling due after more than one year

7

(93,801

)

(88,562

)

PROVISIONS FOR LIABILITIES

(38,619

)

(34,295

)

NET ASSETS

1,495,860

1,549,673

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,495,760

1,549,573

SHAREHOLDERS' FUNDS

1,495,860

1,549,673

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 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 20 February 2026 and were signed by:

C Murray - Director

1.	STATUTORY INFORMATION

Magnus Electrical Services Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 80 (2024 - 83 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2024

17,247

504,644

33,531

555,422

Additions

-

125,821

-

125,821

Disposals

-

(147,213

)

-

(147,213

)

At 31 October 2025

17,247

483,252

33,531

534,030

DEPRECIATION

At 1 November 2024

17,124

271,401

29,210

317,735

Charge for year

30

65,796

1,080

66,906

Eliminated on disposal

-

(51,330

)

-

(51,330

)

At 31 October 2025

17,154

285,867

30,290

333,311

NET BOOK VALUE

At 31 October 2025

93

197,385

3,241

200,719

At 31 October 2024

123

233,243

4,321

237,687

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2024

275,114

Additions

120,821

Disposals

(119,306

)

Transfer to ownership

(56,798

)

At 31 October 2025

219,831

DEPRECIATION

At 1 November 2024

105,027

Charge for year

44,449

Eliminated on disposal

(30,507

)

Transfer to ownership

(32,485

)

At 31 October 2025

86,484

NET BOOK VALUE

At 31 October 2025

133,347

At 31 October 2024

170,087

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

535,728

481,208

Prepayments and accrued income

6,451

4,966

542,179

486,174

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Hire purchase contracts (see note 8)

50,265

51,977

Trade creditors

340,519

336,565

Tax

190,582

87,284

Social security and other taxes

100,657

82,926

VAT

133,775

126,276

Accrued expenses

177,025

193,396

992,823

878,424

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Hire purchase contracts (see note 8)

93,801

88,562

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.10.25

31.10.24

£

£

Gross obligations repayable:

Within one year

60,764

62,020

Between one and five years

113,494

108,785

174,258

170,805

Finance charges repayable:

Within one year

10,499

10,043

Between one and five years

19,693

20,223

30,192

30,266

Net obligations repayable:

Within one year

50,265

51,977

Between one and five years

93,801

88,562

144,066

140,539

Non-cancellable

operating leases

31.10.25

31.10.24

£

£

Within one year

30,039

12,000

Between one and five years

107,617

48,000

In more than five years

787,500

552,000

925,156

612,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

£

Hire purchase contracts

144,066

140,539

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C Murray.