6 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,250 125 125 250 1,000 1,125 xbrli:pure xbrli:shares iso4217:GBP SC439637 2022-03-01 2023-02-28 SC439637 2023-02-28 SC439637 2022-02-28 SC439637 2021-03-01 2022-02-28 SC439637 2022-02-28 SC439637 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC439637 core:MotorVehicles 2022-03-01 2023-02-28 SC439637 bus:Director1 2022-03-01 2023-02-28 SC439637 core:LandBuildings 2022-02-28 SC439637 core:PlantMachinery 2022-02-28 SC439637 core:MotorVehicles 2022-02-28 SC439637 core:LandBuildings 2023-02-28 SC439637 core:PlantMachinery 2023-02-28 SC439637 core:MotorVehicles 2023-02-28 SC439637 core:LandBuildings 2022-03-01 2023-02-28 SC439637 core:PlantMachinery 2022-03-01 2023-02-28 SC439637 core:WithinOneYear 2023-02-28 SC439637 core:WithinOneYear 2022-02-28 SC439637 core:AfterOneYear 2023-02-28 SC439637 core:AfterOneYear 2022-02-28 SC439637 core:ShareCapital 2023-02-28 SC439637 core:ShareCapital 2022-02-28 SC439637 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC439637 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC439637 core:LandBuildings 2022-02-28 SC439637 core:PlantMachinery 2022-02-28 SC439637 core:MotorVehicles 2022-02-28 SC439637 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-02-28 SC439637 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-02-28 SC439637 bus:SmallEntities 2022-03-01 2023-02-28 SC439637 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC439637 bus:FullAccounts 2022-03-01 2023-02-28 SC439637 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 SC439637 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC439637 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-03-01 2023-02-28 SC439637 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 SC439637 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-02-28 SC439637 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-02-28 SC439637 core:FurnitureFittingsToolsEquipment 2022-02-28 SC439637 core:FurnitureFittingsToolsEquipment 2023-02-28 SC439637 core:KeyManagementIndividualGroup1 2022-03-01 2023-02-28 SC439637 core:KeyManagementIndividualGroup1 2023-02-28 SC439637 core:EntitiesControlledByKeyManagementPersonnel 2022-03-01 2023-02-28 SC439637 core:EntitiesControlledByKeyManagementPersonnel 2023-02-28
COMPANY REGISTRATION NUMBER: SC439637
Alan M Ross (Sand & Gravel) Limited
Filleted Unaudited Financial Statements
28 February 2023
Alan M Ross (Sand & Gravel) Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1,000
1,125
Tangible assets
6
1,110,453
961,994
------------
---------
1,111,453
963,119
Current assets
Debtors
7
173,114
213,731
Cash at bank and in hand
22,397
---------
---------
173,114
236,128
Creditors: amounts falling due within one year
8
763,813
652,377
---------
---------
Net current liabilities
590,699
416,249
------------
---------
Total assets less current liabilities
520,754
546,870
Creditors: amounts falling due after more than one year
9
262,806
193,637
---------
---------
Net assets
257,948
353,233
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
257,947
353,232
---------
---------
Shareholders funds
257,948
353,233
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alan M Ross (Sand & Gravel) Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr A M Ross
Director
Company registration number: SC439637
Alan M Ross (Sand & Gravel) Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Balachladich Quarry, Wester Urray, Muir of Ord, IV6 7UL, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Private number plates
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
6% straight line
Plant and machinery
-
Variable rates depending on asset
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Intangible assets
Private number plates
£
Cost
At 1 March 2022 and 28 February 2023
1,250
-------
Amortisation
At 1 March 2022
125
Charge for the year
125
-------
At 28 February 2023
250
-------
Carrying amount
At 28 February 2023
1,000
-------
At 28 February 2022
1,125
-------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 March 2022
87,591
1,514,212
41,083
14,807
1,657,693
Additions
6,488
387,411
393,899
Disposals
( 358,880)
( 26,292)
( 403)
( 385,575)
--------
------------
--------
--------
------------
At 28 February 2023
94,079
1,542,743
14,791
14,404
1,666,017
--------
------------
--------
--------
------------
Depreciation
At 1 March 2022
49,376
605,600
27,851
12,872
695,699
Charge for the year
6,272
124,106
534
130,912
Disposals
( 256,342)
( 14,302)
( 403)
( 271,047)
--------
------------
--------
--------
------------
At 28 February 2023
55,648
473,364
13,549
13,003
555,564
--------
------------
--------
--------
------------
Carrying amount
At 28 February 2023
38,431
1,069,379
1,242
1,401
1,110,453
--------
------------
--------
--------
------------
At 28 February 2022
38,215
908,612
13,232
1,935
961,994
--------
------------
--------
--------
------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 28 February 2023
529,959
---------
At 28 February 2022
231,042
---------
7. Debtors
2023
2022
£
£
Trade debtors
154,470
186,374
Other debtors
18,644
27,357
---------
---------
173,114
213,731
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
52,421
29,000
Trade creditors
39,072
33,936
Social security and other taxes
14,007
5,615
Other creditors
658,313
583,826
---------
---------
763,813
652,377
---------
---------
HSBC Bank plc hold a floating charge over the company's assets.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
67,667
96,667
Other creditors
195,139
96,970
---------
---------
262,806
193,637
---------
---------
10. Related party transactions
At the year end date the company owed the director £ 329,937 (2022 - £349,930). This loan is interest free and has no definite repayment terms . During the year the company made purchases of £74,550 (2022 - £132,700) to hire plant from a company in which the director is a director and shareholder . Included in trade creditors is £ 11,912 (2022 - £32) due to this company. At the year end date the company owed £ 70,000 to this company. This loan is interest free and has no definite terms of repayment .