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REGISTERED NUMBER: SC338013 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

AMD CONTRACT SERVICES LIMITED

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AMD CONTRACT SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: Mr F W Dykes
Mrs M Dykes



REGISTERED OFFICE: 1 Old Irongray Road
Dumfries
Dumfries & Galloway
DG2 0BJ



REGISTERED NUMBER: SC338013 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: Royal Bank of Scotland
Dumfries Whitesands Branch
68 Whitesands
Dumfries
DG1 2PG

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 5,731,234 5,772,115
5,731,234 5,772,115

CURRENT ASSETS
Inventories 6 535,154 535,000
Debtors 7 1,643,523 1,566,804
Cash at bank 72,631 199,046
2,251,308 2,300,850
CREDITORS
Amounts falling due within one year 8 2,940,254 3,493,014
NET CURRENT LIABILITIES (688,946 ) (1,192,164 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,042,288

4,579,951

CREDITORS
Amounts falling due after more than one
year

9

(2,389,234

)

(2,212,117

)

PROVISIONS FOR LIABILITIES (777,390 ) (681,020 )
NET ASSETS 1,875,664 1,686,814

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 1,874,664 1,685,814
SHAREHOLDERS' FUNDS 1,875,664 1,686,814

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 19 October 2023 and were signed on its behalf by:





Mr F W Dykes - Director


AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

AMD Contract Services 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 as modified by the revaluation of certain assets.

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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Stock Valuation
The Company assesses the carrying value of stock on at least an annual basis, taking into consideration when each item was purchased and the Company's ability to sell that particular item. Where it is considered the net realisable value of stock has fallen below its' original cost, a provision is made by Management gainst the stock value in the financial statements.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application of FRS 102
The Company has considered and taken advantage of the following exemptions in its application of FRS 102:
i) The Company has not revisited previous accounting estimates

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Plant hire sales turnover is recognised when a sales contract is signed by the customer and workshop turnover is recognised when the goods and services are delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognized in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognized in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognized as a liability.

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

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.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2022 - 54 ) .

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 70,000
AMORTISATION
At 1 April 2022
and 31 March 2023 70,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 April 2022 864,531 263,601 7,068,682
Additions - 28,639 1,045,743
Disposals - - (929,512 )
At 31 March 2023 864,531 292,240 7,184,913
DEPRECIATION
At 1 April 2022 - 102,067 2,536,490
Charge for year - 39,822 703,717
Eliminated on disposal - - (497,214 )
At 31 March 2023 - 141,889 2,742,993
NET BOOK VALUE
At 31 March 2023 864,531 150,351 4,441,920
At 31 March 2022 864,531 161,534 4,532,192

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 122,610 505,876 8,825,300
Additions 3,089 127,298 1,204,769
Disposals - (119,597 ) (1,049,109 )
At 31 March 2023 125,699 513,577 8,980,960
DEPRECIATION
At 1 April 2022 51,219 363,409 3,053,185
Charge for year 11,025 47,319 801,883
Eliminated on disposal - (108,128 ) (605,342 )
At 31 March 2023 62,244 302,600 3,249,726
NET BOOK VALUE
At 31 March 2023 63,455 210,977 5,731,234
At 31 March 2022 71,391 142,467 5,772,115

Cost or valuation at 31 March 2023 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2023 864,531 292,240 7,184,913

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2023 125,699 513,577 8,980,960

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 6,480,512 159,708 6,640,220
Additions 959,725 127,298 1,087,023
Disposals (681,667 ) - (681,667 )
Transfer to ownership (279,000 ) - (279,000 )
At 31 March 2023 6,479,570 287,006 6,766,576
DEPRECIATION
At 1 April 2022 1,726,351 36,779 1,763,130
Charge for year 605,936 33,849 639,785
Eliminated on disposal (322,477 ) - (322,477 )
Transfer to ownership (154,502 ) - (154,502 )
At 31 March 2023 1,855,308 70,628 1,925,936
NET BOOK VALUE
At 31 March 2023 4,624,262 216,378 4,840,640
At 31 March 2022 4,754,161 122,929 4,877,090

6. INVENTORIES
2023 2022
£    £   
Stocks 535,154 535,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,364,401 1,099,029
Other debtors 279,122 467,775
1,643,523 1,566,804

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 850,256 904,318
Hire purchase contracts 978,845 847,195
Trade creditors 810,316 1,480,633
Taxation and social security 124,462 105,514
Other creditors 176,375 155,354
2,940,254 3,493,014

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 484,357 634,336
Hire purchase contracts 1,904,877 1,577,781
2,389,234 2,212,117

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 2,883,722 2,424,976

Hire purchase creditors are secured by a bond and floating charge over the asset to which they relate to.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1 April 2022 1,685,814
Profit for the year 291,360
Dividends (102,510 )
At 31 March 2023 1,874,664

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr F W Dykes
Balance outstanding at start of year 746 (50,962 )
Amounts advanced 223,688 174,769
Amounts repaid (119,006 ) (123,061 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 105,428 746