REGISTERED NUMBER: SC037551 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

A. Alexander & Son (Electrical) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J K Alexander

Mrs M F Alexander

S M Alexander

SECRETARY:

Mrs M F Alexander

REGISTERED OFFICE:

9 Cathkinview Road

Glasgow

G42 9EH

REGISTERED NUMBER:

SC037551 (Scotland)

ACCOUNTANTS:

Bell Barr & Company

Chartered Accountants

2 Stewart Street

Milngavie

Glasgow

G62 6BW

SOLICITORS:

Mitchells Roberton

George House

36 North Hanover Street

Glasgow

G1 2AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

477,556

436,402

477,556

436,402

CURRENT ASSETS

Stocks

56,347

24,665

Debtors

6

1,262,125

1,027,435

Cash at bank and in hand

2,984

15,866

1,321,456

1,067,966

CREDITORS

Amounts falling due within one year

7

1,124,472

920,201

NET CURRENT ASSETS

196,984

147,765

TOTAL ASSETS LESS CURRENT LIABILITIES

674,540

584,167

CREDITORS

Amounts falling due after more than one year

8

(97,310

)

(83,491

)

PROVISIONS FOR LIABILITIES

-

(10,272

)

NET ASSETS

577,230

490,404

CAPITAL AND RESERVES

Called up share capital

800

800

Revaluation reserve

175,776

175,776

Retained earnings

400,654

313,828

SHAREHOLDERS' FUNDS

577,230

490,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 4 December 2018 and were signed on its behalf by:

J K Alexander - Director

1.	STATUTORY INFORMATION

A. Alexander & Son (Electrical) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds

available, and are satisfied that the company is a going concern.

Turnover

Turnover represents net invoiced sales of goods and services, excluding VAT, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was amortised evenly

over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

4% on reducing balance

Plant and machinery

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on reducing balance

The company has adopted a policy of revaluation in respect of freehold property.

Stocks

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

moving items.

Amounts recoverable on contracts

When the outcome of a long term contract can be foreseen with reasonable certainty any profits are recognised

with reference to the stage of completion of the contract. Losses are provided for in full when identified.

Financial instruments

The company only has financial assets and financial 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 Profit and Loss Account,

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.

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.

Cash at bank

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three

months or less from the date of acquisition or opening of the account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2017 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

192,900

Disposals

(192,900

)

At 31 March 2018

-

AMORTISATION

At 1 April 2017

192,900

Eliminated on disposal

(192,900

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2017

350,000

56,671

123,448

Additions

-

-

2,509

At 31 March 2018

350,000

56,671

125,957

DEPRECIATION

At 1 April 2017

-

24,332

120,377

Charge for year

-

1,294

935

Eliminated on disposal

-

-

-

At 31 March 2018

-

25,626

121,312

NET BOOK VALUE

At 31 March 2018

350,000

31,045

4,645

At 31 March 2017

350,000

32,339

3,071

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2017

164,140

43,675

737,934

Additions

89,557

1,802

93,868

Disposals

(43,434

)

-

(43,434

)

At 31 March 2018

210,263

45,477

788,368

DEPRECIATION

At 1 April 2017

118,907

37,916

301,532

Charge for year

44,182

2,493

48,904

Eliminated on disposal

(39,624

)

-

(39,624

)

At 31 March 2018

123,465

40,409

310,812

NET BOOK VALUE

At 31 March 2018

86,798

5,068

477,556

At 31 March 2017

45,233

5,759

436,402

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

1,149,394

938,715

Amounts recoverable on contract

47,125

65,850

Other debtors

65,606

22,870

1,262,125

1,027,435

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

274,434

257,035

Hire purchase contracts

38,922

28,282

Trade creditors

649,893

357,659

Taxation and social security

95,937

132,227

Other creditors

65,286

144,998

1,124,472

920,201

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

48,556

69,648

Hire purchase contracts

48,754

13,843

97,310

83,491

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank overdrafts

254,434

237,035

Bank loans

68,556

89,648

322,990

326,683

The bank borrowings are secured by a floating charge over the assets of the company plus a standard security on

property owned by the company, together with a personal guarantee from the directors.