REGISTERED NUMBER: 05035813 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SURVEY DESIGN SERVICES & ASSOCIATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N M Forwood

Mrs H E Weigh

REGISTERED OFFICE:

Units 13 & 14

The Foundry Business Park

Seager Road

Faversham

Kent

ME13 7FD

REGISTERED NUMBER:

05035813 (England and Wales)

ACCOUNTANTS:

George & Co.

Chartered Accountants

44a Joy Lane

Whitstable

Kent

CT5 4LT

FIXED ASSETS

Tangible assets

4

596,905

454,864

CURRENT ASSETS

Debtors

5

1,074,849

705,117

Cash at bank and in hand

904,590

1,050,945

1,979,439

1,756,062

CREDITORS

Amounts falling due within one year

6

433,040

412,875

NET CURRENT ASSETS

1,546,399

1,343,187

TOTAL ASSETS LESS CURRENT LIABILITIES

2,143,304

1,798,051

CREDITORS

Amounts falling due after more than one year

7

-

(50,000

)

PROVISIONS FOR LIABILITIES

(88,934

)

(59,159

)

NET ASSETS

2,054,370

1,688,892

CAPITAL AND RESERVES

Called up share capital

140

140

Capital redemption reserve

9

190

190

Retained earnings

9

2,054,040

1,688,562

2,054,370

1,688,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 8 August 2023 and were signed on its behalf by:

N M Forwood - Director

1.	STATUTORY INFORMATION

Survey Design Services & Associates Ltd is a private company, limited by shares , registered in England and Wales. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance, 20% on cost and 15% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 21 (2022 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2022

83,333

1,309,860

1,393,193

Additions

-

276,077

276,077

At 28 February 2023

83,333

1,585,937

1,669,270

DEPRECIATION

At 1 March 2022

-

938,329

938,329

Charge for year

-

134,036

134,036

At 28 February 2023

-

1,072,365

1,072,365

NET BOOK VALUE

At 28 February 2023

83,333

513,572

596,905

At 28 February 2022

83,333

371,531

454,864

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

66,823

At 28 February 2023

66,823

DEPRECIATION

Charge for year

16,705

At 28 February 2023

16,705

NET BOOK VALUE

At 28 February 2023

50,118

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Trade debtors

708,093

464,158

Amounts recoverable on contract

332,445

204,246

Other debtors

34,311

36,713

1,074,849

705,117

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Hire purchase contracts (see note 8)

10,000

-

Trade creditors

230,472

129,908

Taxation and social security

136,388

224,275

Other creditors

56,180

58,692

433,040

412,875

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.23

28.2.22

£

£

Other creditors

-

50,000

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

28.2.23

28.2.22

£

£

Net obligations repayable:

Within one year

10,000

-

Non-cancellable operating

leases

28.2.23

28.2.22

£

£

Within one year

8,500

34,000

Between one and five years

-

8,500

8,500

42,500

The company rents it's premises under an agreed 5 year lease from 18th May 2018 at an agreed total rental of £34,000 per annum.

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 March 2022

1,688,562

190

1,688,752

Profit for the year

459,278

459,278

Dividends

(93,800

)

(93,800

)

At 28 February 2023

2,054,040

190

2,054,230

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The premises are rented from a pension scheme of which a director, Mr Nolan Forwood, is a member. The rent payable is set at an independently agreed market rate.