Lime Electrical Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC516740 (Scotland)

Unaudited Financial Statements

for the Period 1 September 2021 to 31 December 2021

for

Lime Electrical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Fyfe

A Halleran

REGISTERED OFFICE:

1 Dryden Road

Unit 4

Loanhead

EH20 9LZ

REGISTERED NUMBER:

SC516740 (Scotland)

ACCOUNTANTS:

J S Accounting Services Limited

13-15 Morningside Drive

EDINBURGH

EH10 5LZ

FIXED ASSETS

Tangible assets

4

243,638

196,674

CURRENT ASSETS

Debtors

5

412,989

283,936

Cash at bank and in hand

15,243

11,827

428,232

295,763

CREDITORS

Amounts falling due within one year

6

603,427

274,093

NET CURRENT (LIABILITIES)/ASSETS

(175,195

)

21,670

TOTAL ASSETS LESS CURRENT LIABILITIES

68,443

218,344

CREDITORS

Amounts falling due after more than one year

7

46,124

139,341

NET ASSETS

22,319

79,003

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

22,119

78,803

SHAREHOLDERS' FUNDS

22,319

79,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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 25 October 2022 and were signed on its behalf by:

D J Fyfe - Director

1.	STATUTORY INFORMATION

Lime 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 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.

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Taxation

Taxation for the period 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 period 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

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 period was 20 (2021 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2021

194,748

Additions

192,063

Disposals

(49,972

)

At 31 December 2021

336,839

DEPRECIATION

At 1 September 2021

63,236

Charge for period

42,863

Eliminated on disposal

(12,898

)

At 31 December 2021

93,201

NET BOOK VALUE

At 31 December 2021

243,638

At 31 August 2021

131,512

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.8.21

£

£

Trade debtors

357,254

249,341

Other debtors

55,735

34,595

412,989

283,936

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.8.21

£

£

Hire purchase contracts

193,811

26,360

Trade creditors

215,773

98,583

Taxation and social security

101,689

83,099

Other creditors

92,154

66,051

603,427

274,093

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.8.21

£

£

Hire purchase contracts

-

92,810

Other creditors

46,124

46,531

46,124

139,341

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr Halleran and Mr Fyfe paid expenses on behalf of the company of £900 (2020: £900) and £900 (2020:£900) respectively. At 31 December 2021 the company was due them £68,103 (2020:£24,203 ) and £17,570(2020: £2,670) respectively.

Dividends of £40,701(2020:£31,000) and £41,322 (2020: £34,0703) were paid to Mr Halleran and Mr Fyfe respectively.