Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30trueNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01false56true SC506010 2022-07-01 2023-06-30 SC506010 2021-07-01 2022-06-30 SC506010 2023-06-30 SC506010 2022-06-30 SC506010 1 2022-07-01 2023-06-30 SC506010 d:Director2 2022-07-01 2023-06-30 SC506010 d:Director3 2022-07-01 2023-06-30 SC506010 d:Director3 2023-06-30 SC506010 d:RegisteredOffice 2022-07-01 2023-06-30 SC506010 c:PlantMachinery 2022-07-01 2023-06-30 SC506010 c:PlantMachinery 2023-06-30 SC506010 c:PlantMachinery 2022-06-30 SC506010 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC506010 c:MotorVehicles 2022-07-01 2023-06-30 SC506010 c:MotorVehicles 2023-06-30 SC506010 c:MotorVehicles 2022-06-30 SC506010 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC506010 c:OfficeEquipment 2022-07-01 2023-06-30 SC506010 c:OfficeEquipment 2023-06-30 SC506010 c:OfficeEquipment 2022-06-30 SC506010 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC506010 c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC506010 c:CurrentFinancialInstruments 2023-06-30 SC506010 c:CurrentFinancialInstruments 2022-06-30 SC506010 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 SC506010 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 SC506010 c:ShareCapital 2023-06-30 SC506010 c:ShareCapital 2022-06-30 SC506010 c:RetainedEarningsAccumulatedLosses 2023-06-30 SC506010 c:RetainedEarningsAccumulatedLosses 2022-06-30 SC506010 d:OrdinaryShareClass1 2022-07-01 2023-06-30 SC506010 d:OrdinaryShareClass1 2023-06-30 SC506010 d:OrdinaryShareClass1 2022-06-30 SC506010 d:FRS102 2022-07-01 2023-06-30 SC506010 d:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC506010 d:FullAccounts 2022-07-01 2023-06-30 SC506010 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC506010










A & D PRECISION ENGINEERING LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

 
A & D PRECISION ENGINEERING LTD
 

COMPANY INFORMATION


Directors
Mr S R Fernando 
Mr S Ruwan Fernando (appointed 1 July 2023)




Registered number
SC506010



Registered office
52/53 Nasmyth Road
Southfield Industrial Estate

Glenrothes

Fife

KY6 2SD




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
A & D PRECISION ENGINEERING LTD
REGISTERED NUMBER: SC506010

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
143,150
167,896

  
143,150
167,896

Current assets
  

Debtors: amounts falling due within one year
 5 
75,457
63,358

Cash at bank and in hand
  
34,433
115,873

  
109,890
179,231

Creditors: amounts falling due within one year
 6 
(67,648)
(181,200)

Net current assets/(liabilities)
  
 
 
42,242
 
 
(1,969)

Total assets less current liabilities
  
185,392
165,927

Provisions for liabilities
  

Deferred tax
  
(35,787)
(36,614)

  
 
 
(35,787)
 
 
(36,614)

Net assets
  
149,605
129,313


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
149,604
129,312

  
149,605
129,313


Page 1

 
A & D PRECISION ENGINEERING LTD
REGISTERED NUMBER: SC506010

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 period 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 13 November 2023.




Mr S Ruwan Fernando
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
A & D PRECISION ENGINEERING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

A & D Precision Engineering Limited is a private company, limited by shares and incorporated in Scotland, registration number SC506010. The registered office address is 52/53 Nasmyth Road, Southfield Industrial Estate, Glenrothes, Fife, Scotland, KY6 2SD.
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 3

 
A & D PRECISION ENGINEERING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

Current and deferred taxation

The tax expense for the period 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.

 
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.

Page 4

 
A & D PRECISION ENGINEERING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a straight line or reducing balance basis .

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Reducing balance
Motor vehicles
-
25%
Straight line
Office equipment
-
33%
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

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.

 
2.8

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 5 (2022 - 6).

Page 5

 
A & D PRECISION ENGINEERING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
166,929
15,935
29,951
212,815


Additions
563
-
-
563



At 30 June 2023

167,492
15,935
29,951
213,378



Depreciation


At 1 July 2022
23,513
2,739
18,667
44,919


Charge for the period on owned assets
14,383
3,984
6,942
25,309



At 30 June 2023

37,896
6,723
25,609
70,228



Net book value



At 30 June 2023
129,596
9,212
4,342
143,150



At 30 June 2022
143,416
13,196
11,284
167,896


5.


Debtors

2023
2022
£
£


Trade debtors
68,500
49,130

Other debtors
277
7,350

Prepayments and accrued income
6,680
6,878

75,457
63,358


Page 6

 
A & D PRECISION ENGINEERING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
56,643
106,180

Other taxation and social security
7,467
-

Other creditors
-
72,720

Accruals and deferred income
3,538
2,300

67,648
181,200


Secured loans
Net obligations under hire purchase contracts are secured against the relevant assets.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



8.


Post balance sheet events

On 17 July 2023 Ardmel Automation Limited acquired 100% of the share capital of A & D Precision Engineering Limited.


Page 7