REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2019 |
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GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2019 |
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FOR |
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GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED |
GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED (REGISTERED NUMBER: SC253881) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2019 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED (REGISTERED NUMBER: SC253881) |
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BALANCE SHEET |
31 August 2019 |
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31.8.19 | 31.8.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED (REGISTERED NUMBER: SC253881) |
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BALANCE SHEET - continued |
31 August 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED (REGISTERED NUMBER: SC253881) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2019 |
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1. | STATUTORY INFORMATION |
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Gillespie & McLean Electrical Services Limited is a
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The company's registered number and registered office address are as below: |
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Registered number: | SC253881 |
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Registered office: | 22 Backbrae Street |
Kilsyth |
North Lanarkshire |
G65 0NH |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover and revenue recognition |
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when |
goods and services are provided to the customer. |
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Tangible fixed assets |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED (REGISTERED NUMBER: SC253881) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2018 |
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Additions |
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At 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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5. | STOCKS |
31.8.19 | 31.8.18 |
£ | £ |
Stocks |
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Work-in-progress |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Trade debtors |
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Prepayments |
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GILLESPIE & MCLEAN ELECTRICAL SERVICES |
LIMITED (REGISTERED NUMBER: SC253881) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 22,626 | 31,733 |
Other Creditors |
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Factor Account | 40,000 | 40,000 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Hire purchase contracts |
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