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REGISTERED NUMBER: SC464761 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Aberdeen Sheet Metal Limited

Aberdeen Sheet Metal Limited (Registered number: SC464761)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aberdeen Sheet Metal Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr D B Gribble
Mr A Robertson





REGISTERED OFFICE: Johnstone House 52-54 Rose Street
Aberdeen
AB10 1HA





REGISTERED NUMBER: SC464761 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Aberdeen Sheet Metal Limited (Registered number: SC464761)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,376 46,226

CURRENT ASSETS
Stocks 19,652 7,000
Debtors 5 421,590 267,276
Cash at bank 37,828 16,489
479,070 290,765
CREDITORS
Amounts falling due within one year 6 299,621 172,422
NET CURRENT ASSETS 179,449 118,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,825

164,569

CREDITORS
Amounts falling due after more than one
year

7

(30,000

)

(44,600

)

PROVISIONS FOR LIABILITIES (311 ) -
NET ASSETS 161,514 119,969

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 199,975 199,975
Retained earnings (38,561 ) (80,106 )
161,514 119,969

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.

Aberdeen Sheet Metal Limited (Registered number: SC464761)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





Mr A Robertson - Director


Aberdeen Sheet Metal Limited (Registered number: SC464761)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Aberdeen Sheet Metal 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.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost and 25% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Aberdeen Sheet Metal Limited (Registered number: SC464761)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 92,866 2,008 83,053 3,888 181,815
Additions 2,750 - - - 2,750
Disposals - - (70,720 ) - (70,720 )
At 31 March 2023 95,616 2,008 12,333 3,888 113,845
DEPRECIATION
At 1 April 2022 76,482 1,946 53,742 3,419 135,589
Charge for year 8,740 15 641 455 9,851
Eliminated on disposal - - (43,971 ) - (43,971 )
At 31 March 2023 85,222 1,961 10,412 3,874 101,469
NET BOOK VALUE
At 31 March 2023 10,394 47 1,921 14 12,376
At 31 March 2022 16,384 62 29,311 469 46,226

Leased assets
Included within the net book value of tangible fixed assets is £7,501 (2022 - £15,301) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £7,800 (2022 - £7,800).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 302,557 149,585
Other debtors 119,033 117,691
421,590 267,276

Aberdeen Sheet Metal Limited (Registered number: SC464761)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 4,600 4,600
Trade creditors 91,056 81,584
Taxation and social security 103,970 37,613
Other creditors 99,995 48,625
299,621 172,422

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 30,000 40,000
Hire purchase contracts - 4,600
30,000 44,600

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.23 31.3.22
£    £   
Mr D B Gribble
Balance outstanding at start of year 21,165 21,165
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,165 21,165

Mr A Robertson
Balance outstanding at start of year 28,236 28,236
Amounts repaid (54 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,182 28,236

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.