Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31false2021-04-01No description of principal activity109falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC228612 2021-04-01 2022-03-31 SC228612 2020-04-01 2021-03-31 SC228612 2022-03-31 SC228612 2021-03-31 SC228612 c:CompanySecretary1 2021-04-01 2022-03-31 SC228612 c:Director1 2021-04-01 2022-03-31 SC228612 c:Director2 2021-04-01 2022-03-31 SC228612 c:RegisteredOffice 2021-04-01 2022-03-31 SC228612 d:PlantMachinery 2021-04-01 2022-03-31 SC228612 d:PlantMachinery 2022-03-31 SC228612 d:PlantMachinery 2021-03-31 SC228612 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC228612 d:MotorVehicles 2021-04-01 2022-03-31 SC228612 d:MotorVehicles 2022-03-31 SC228612 d:MotorVehicles 2021-03-31 SC228612 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC228612 d:OfficeEquipment 2021-04-01 2022-03-31 SC228612 d:OfficeEquipment 2022-03-31 SC228612 d:OfficeEquipment 2021-03-31 SC228612 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC228612 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 SC228612 d:CurrentFinancialInstruments 2022-03-31 SC228612 d:CurrentFinancialInstruments 2021-03-31 SC228612 d:Non-currentFinancialInstruments 2022-03-31 SC228612 d:Non-currentFinancialInstruments 2021-03-31 SC228612 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC228612 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 SC228612 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 SC228612 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 SC228612 d:ShareCapital 2022-03-31 SC228612 d:ShareCapital 2021-03-31 SC228612 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC228612 d:RetainedEarningsAccumulatedLosses 2021-03-31 SC228612 c:OrdinaryShareClass1 2021-04-01 2022-03-31 SC228612 c:OrdinaryShareClass1 2022-03-31 SC228612 c:OrdinaryShareClass1 2021-03-31 SC228612 c:FRS102 2021-04-01 2022-03-31 SC228612 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 SC228612 c:FullAccounts 2021-04-01 2022-03-31 SC228612 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC228612










N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mrs Sally Simpson 
Norman Simpson 




COMPANY SECRETARY
Mrs S Simpson



REGISTERED NUMBER
SC228612



REGISTERED OFFICE
3 Herald Avenue

Angus

DD11 4JJ




ACCOUNTANTS
EQ Accountants LLP

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
£
£

FIXED ASSETS
  

Tangible assets
 4 
64,338
57,312

  
64,338
57,312

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
49,492
78,435

Cash at bank and in hand
  
208,004
208,959

  
257,496
287,394

Creditors: amounts falling due within one year
 6 
(26,676)
(95,175)

NET CURRENT ASSETS
  
 
 
230,820
 
 
192,219

TOTAL ASSETS LESS CURRENT LIABILITIES
  
295,158
249,531

Creditors: amounts falling due after more than one year
 7 
(4,084)
-

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(344)
(1,749)

  
 
 
(344)
 
 
(1,749)

NET ASSETS
  
290,730
247,782


CAPITAL AND RESERVES
  

Called up share capital 
 8 
2
2

Profit and loss account
  
290,728
247,780

  
290,730
247,782



 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
REGISTERED NUMBER:SC228612

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 August 2022.




Mrs Sally Simpson
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


GENERAL INFORMATION

N Simpson Roof & Wall Cladding Experts is a company limited by shares and registered in Scotland. The registered office is 3 Herald Avenue, Angus, DD11 4JJ.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.ACCOUNTING POLICIES (continued)

 
2.3

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

During the year the business was in receipt of the following revenue grants in relation to the COVID-19 pandemic -
Coronavirus Job Retention Scheme (CJRS) which is recognised when receivable.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as listed below.

Depreciation is provided on the following basis:

Plant and Machinery
-
10%
reducing balance
Motor Vehicles
-
25%
reducing balance
Office Equipment
-
10%
/33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.ACCOUNTING POLICIES (continued)

 
2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 10 (2021 - 9).

Page 4

 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


TANGIBLE FIXED ASSETS





Plant and Machinery
Motor Vehicles
Office Equipment
Total

£
£
£
£



COST OR VALUATION


At 1 April 2021
2,969
116,784
10,884
130,637


Additions
-
38,545
-
38,545


Disposals
-
(25,787)
-
(25,787)



At 31 March 2022

2,969
129,542
10,884
143,395



DEPRECIATION


At 1 April 2021
2,508
63,507
7,310
73,325


Charge for the year on owned assets
47
20,236
358
20,641


Disposals
-
(14,909)
-
(14,909)



At 31 March 2022

2,555
68,834
7,668
79,057



NET BOOK VALUE



At 31 March 2022
414
60,708
3,216
64,338



At 31 March 2021
461
53,277
3,574
57,312


5.


DEBTORS

2022
2021
£
£


Trade debtors
1,500
24,289

Other debtors
45,256
40,888

Prepayments and accrued income
2,736
13,258

49,492
78,435


Page 5

 
N SIMPSON ROOF & WALL CLADDING EXPERTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£

Trade creditors
1,966
1,670

Other taxation and social security
17,620
26,805

Obligations under finance lease and hire purchase contracts
2,655
27,975

Other creditors
1,538
35,828

Accruals and deferred income
2,897
2,897

26,676
95,175



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
2021
£
£

Net obligations under finance leases and hire purchase contracts
4,084
-

4,084
-



8.


SHARE CAPITAL

2022
2021
£
£
ALLOTTED, CALLED UP AND FULLY PAID



2 (2021 - 2) Ordinary shares of £1.00 each
2
2



Page 6