Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31falsetrue2022-06-01No description of principal activity1820trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC065067 2022-06-01 2023-05-31 SC065067 2021-06-01 2022-05-31 SC065067 2023-05-31 SC065067 2022-05-31 SC065067 c:Director1 2022-06-01 2023-05-31 SC065067 c:Director2 2022-06-01 2023-05-31 SC065067 c:RegisteredOffice 2022-06-01 2023-05-31 SC065067 d:Buildings 2022-06-01 2023-05-31 SC065067 d:Buildings 2023-05-31 SC065067 d:Buildings 2022-05-31 SC065067 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC065067 d:Buildings d:ShortLeaseholdAssets 2022-06-01 2023-05-31 SC065067 d:Buildings d:ShortLeaseholdAssets 2023-05-31 SC065067 d:Buildings d:ShortLeaseholdAssets 2022-05-31 SC065067 d:PlantMachinery 2022-06-01 2023-05-31 SC065067 d:PlantMachinery 2023-05-31 SC065067 d:PlantMachinery 2022-05-31 SC065067 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC065067 d:MotorVehicles 2022-06-01 2023-05-31 SC065067 d:FurnitureFittings 2022-06-01 2023-05-31 SC065067 d:ComputerEquipment 2022-06-01 2023-05-31 SC065067 d:ComputerEquipment 2023-05-31 SC065067 d:ComputerEquipment 2022-05-31 SC065067 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC065067 d:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 SC065067 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC065067 d:Goodwill 2023-05-31 SC065067 d:Goodwill 2022-05-31 SC065067 d:FreeholdInvestmentProperty 2023-05-31 SC065067 d:FreeholdInvestmentProperty 2022-05-31 SC065067 d:CurrentFinancialInstruments 2023-05-31 SC065067 d:CurrentFinancialInstruments 2022-05-31 SC065067 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC065067 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 SC065067 d:ShareCapital 2023-05-31 SC065067 d:ShareCapital 2022-05-31 SC065067 d:OtherMiscellaneousReserve 2023-05-31 SC065067 d:OtherMiscellaneousReserve 2022-05-31 SC065067 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC065067 d:RetainedEarningsAccumulatedLosses 2022-05-31 SC065067 c:OrdinaryShareClass1 2022-06-01 2023-05-31 SC065067 c:OrdinaryShareClass1 2023-05-31 SC065067 c:OrdinaryShareClass1 2022-05-31 SC065067 c:FRS102 2022-06-01 2023-05-31 SC065067 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC065067 c:FullAccounts 2022-06-01 2023-05-31 SC065067 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC065067 d:WithinOneYear 2023-05-31 SC065067 d:WithinOneYear 2022-05-31 SC065067 d:BetweenOneFiveYears 2023-05-31 SC065067 d:BetweenOneFiveYears 2022-05-31 SC065067 d:MoreThanFiveYears 2023-05-31 SC065067 d:MoreThanFiveYears 2022-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC065067










ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 

COMPANY INFORMATION


Directors
Mr I N Cuthbert 
Mr F I Cuthbert 




Registered number
SC065067



Registered office
Melville Gates

Ladybank

Fife

KY15 7RF




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
REGISTERED NUMBER:SC065067

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 5 
4,846,190
4,554,693

Investments
 6 
25
25

Investment Property
 7 
131,500
131,500

  
4,977,715
4,686,218

Current assets
  

Stocks
  
2,243,876
2,245,264

Debtors: amounts falling due within one year
 8 
1,431,042
1,537,791

Cash at bank and in hand
  
4,626,157
4,127,933

  
8,301,075
7,910,988

Creditors: amounts falling due within one year
 9 
(654,577)
(1,068,591)

Net current assets
  
 
 
7,646,498
 
 
6,842,397

Total assets less current liabilities
  
12,624,213
11,528,615

Provisions for liabilities
  

Deferred tax
  
(378,181)
(238,323)

  
 
 
(378,181)
 
 
(238,323)

Net assets
  
12,246,032
11,290,292


Capital and reserves
  

Called up share capital 
 10 
145,100
145,100

Other reserves
  
2,000
2,000

Profit and loss account
  
12,098,932
11,143,192

  
12,246,032
11,290,292


Page 1

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
REGISTERED NUMBER:SC065067

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

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 by: 




Mr F I Cuthbert
Director

Date: 18 October 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Angle Park Sand & Gravel Company Limited is a private company, limited by shares and incorporated in Scotland.  The registered office is Melville Gates, Ladybank, Fife, KY15 7RF.   
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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

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.

Page 3

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

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 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.

Page 4

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

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, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Land and heritable property
-
Land is not depreciated. Heritable property is depreciated at 2% straight line
Mineral Rights
-
written off over the estimated life of the quarrying from commencement
Plant and machinery
-
15%-20% reducing balance and 10%-33.33% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Distillery
-
2% straight line

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 20).

Page 6

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 June 2022
342,967



At 31 May 2023

342,967



Amortisation


At 1 June 2022
342,967



At 31 May 2023

342,967



Net book value



At 31 May 2023
-



At 31 May 2022
-


5.


Tangible fixed assets





Land and Heritable Property
Mineral Rights
Plant and machinery
Other assets
Total

£
£
£
£
£



Cost or valuation


At 1 June 2022
3,157,665
1,991,443
4,728,673
460,227
10,338,008


Additions
99,669
-
690,025
74,338
864,032


Disposals
-
-
(65,000)
(40,500)
(105,500)



At 31 May 2023

3,257,334
1,991,443
5,353,698
494,065
11,096,540



Depreciation


At 1 June 2022
521,566
1,831,820
3,250,865
179,064
5,783,315


Charge for the year on owned assets
23,209
159,623
279,338
80,917
543,087


Disposals
-
-
(44,162)
(31,890)
(76,052)



At 31 May 2023

544,775
1,991,443
3,486,041
228,091
6,250,350



Net book value



At 31 May 2023
2,712,559
-
1,867,657
265,974
4,846,190



At 31 May 2022
2,636,099
159,623
1,477,808
281,163
4,554,693

Page 7

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Fixed asset investments





Trade investments

£





At 1 June 2022 and 31 May 2023
25





7.


Investment property


Investment property

£



Valuation


At 1 June 2022
131,500



At 31 May 2023
131,500

The directors consider the above valuation of the investment property at 31 May 2023 to be reasonable. 







8.


Debtors

2023
2022
£
£


Trade debtors
1,197,750
1,451,093

Other debtors
102,762
35,727

Prepayments and accrued income
130,530
50,971

1,431,042
1,537,791



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
391,060
321,841

Other taxation and social security
107,622
582,984

Other creditors
40,355
50,495

Accruals and deferred income
115,540
113,271

654,577
1,068,591


Page 8

 
ANGLE PARK SAND AND GRAVEL COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



145,100 (2022 - 145,100) Ordinary shares of £1.00 each
145,100
145,100



11.


Commitments under operating leases

At 31 May 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
126,491
113,117

Later than 1 year and not later than 5 years
505,965
452,466

Later than 5 years
205,467
295,881

837,923
861,464


Page 9