REGISTERED NUMBER: SC467326 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

G 1 ELECTRICAL SERVICES LTD

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

12,207

16,276

CURRENT ASSETS

Stocks

20,000

40,000

Debtors

54,169

40,367

Cash at bank

15,785

4,517

89,954

84,884

CREDITORS

Amounts falling due within one year

78,375

96,278

NET CURRENT ASSETS/(LIABILITIES)

11,579

(11,394

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,786

4,882

CREDITORS

Amounts falling due after more than one year

-

3,308

NET ASSETS

23,786

1,574

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,686

1,474

SHAREHOLDERS' FUNDS

23,786

1,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2026 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 October 2026 and were signed by:

G Kelly - Director

1.	STATUTORY INFORMATION

G 1 Electrical Services Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC467326

Registered office:

60 Pollock Drive

Bishopbriggs

Glasgow

Strathclyde

G64 2BY

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 and revenue recognition

Turnover represents net invoiced sales of for electrical installation services, excluding VAT. Revenue is recognised when services are provided to the customer.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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 items.

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.

Financial instruments

The company only has basic financial assets and 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2025

and 31 January 2026

45,225

DEPRECIATION

At 1 February 2025

28,949

Charge for year

4,069

At 31 January 2026

33,018

NET BOOK VALUE

At 31 January 2026

12,207

At 31 January 2025

16,276

Assets held under finance agreements had a net book value of £11,458 (2023: £25,522).

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Kelly.