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REGISTERED NUMBER: SC122516 (Scotland)











A K P SCOTLAND LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditors 5 to 8

Statement of Income and Retained Earnings 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13 to 22


A K P SCOTLAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Ian Kerr McEwan
Moira Murdoch
Rosalind Malcolm
Stephen Robert Sharpe



SECRETARY: Edith Paterson



REGISTERED OFFICE: 31 Carron Place
Kelvin Industrial Estate
East Kilbride
Glasgow
G75 0YL



REGISTERED NUMBER: SC122516 (Scotland)



AUDITORS: Milne Craig
Chartered accountants
Statutory auditor
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



BANKERS: Clydesdale Bank
227 Fenwick Road
Giffnock
Glasgow
G46 6JG

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their strategic report for the year ended 31 March 2023.

The principal activity of the company is the provision of project management services to the construction industry.

REVIEW OF BUSINESS
The key financial highlights are as follows:

Year to31st
March
Year to31st
March
Year to31st
March
2023 2022 2021
£    £    £   

Turnover 19,682,782 15,568,888 15,396,928
Turnover growth 26.4% 1.1% 15.55%
Profit (loss) before tax 900,393 619,783 771,565

The net assets of the company have increased from £2,386,273 at 31 March 2022 to £2,807,919 at 31 March 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
Competitive pressure has increased in the market place and the directors strive to ensure that margins and profitability remain consistent year on year.

In addition the directors seek to control overhead costs in order to maintain the profitability of the company.

FUTURE DEVELOPMENTS
The directors aim to maintain the management policies adopted during the period ended 31 March 2023 and consider the company is well placed to take advantage of opportunities which may arise in the current year.

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to finance the company's operations.

Trade debtors are managed in respect of credit and cashflow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ENVIRONMENT
The company recognises the importance of its environmental responsibilities and has policies in place to manage its impact on the environment.

ON BEHALF OF THE BOARD:





Ian Kerr McEwan - Director


14 November 2023

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of project management services to the construction industry.

DIVIDENDS
The total distribution of dividends for the period ended 31st March 2023 will be £306,672 ( 2022 - £250,000).

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

Ian Kerr McEwan
Moira Murdoch
Rosalind Malcolm
Stephen Robert Sharpe

CHARITABLE DONATIONS
Donations amounting to £723 (2022 - £3,810) were made by the company during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023


AUDITORS
The auditors, Milne Craig, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ian Kerr McEwan - Director


14 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A K P SCOTLAND LIMITED

Opinion
We have audited the financial statements of A K P Scotland Limited (the 'company') for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A K P SCOTLAND LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A K P SCOTLAND LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion,

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we consider the following:
- the nature of the industry and sector, control environment and business performance including the key drivers for Directors' remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and
regulations;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we consider the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the completeness and cut-off of revenue recognition. In common with all audits under ISAs(UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosure in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, tax legislation and Health and Safety legislation.

In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provision of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meeting of those charged with governance;
- in addressing the fraud risk in revenue recognised on a percentage completion basis, we have tested a sample of revenue recorded in the year through agreement to the contract, agreement to valuation certificate, and bank statements, we have also review for any loss making contracts to ensure loss is recognised in full; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A K P SCOTLAND LIMITED

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kirsty Mackie BAcc CA (Senior Statutory Auditor)
for and on behalf of Milne Craig
Chartered accountants
Statutory auditor
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

14 November 2023

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

TURNOVER 3 19,682,782 15,568,888

Cost of sales (16,906,362 ) (13,300,490 )
GROSS PROFIT 2,776,420 2,268,398

Administrative expenses (1,974,340 ) (1,698,483 )
802,080 569,915

Other operating income 91,649 49,454
OPERATING PROFIT 893,729 619,369

Interest receivable and similar income 6,779 414
900,508 619,783

Interest payable and similar expenses 5 (115 ) -
PROFIT BEFORE TAXATION 6 900,393 619,783

Tax on profit 7 (172,075 ) (125,100 )
PROFIT FOR THE FINANCIAL YEAR 728,318 494,683

Retained earnings at beginning of year 2,386,071 2,141,388

Dividends 8 (306,672 ) (250,000 )

RETAINED EARNINGS AT END OF
YEAR

2,807,717

2,386,071

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 135,320 172,516

CURRENT ASSETS
Stocks 10 615,688 510,847
Debtors 11 3,712,806 3,961,772
Cash at bank and in hand 2,659,399 2,492,598
6,987,893 6,965,217
CREDITORS
Amounts falling due within one year 12 4,284,293 4,710,125
NET CURRENT ASSETS 2,703,600 2,255,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,838,920

2,427,608

PROVISIONS FOR LIABILITIES 15 31,001 41,335
NET ASSETS 2,807,919 2,386,273

CAPITAL AND RESERVES
Called up share capital 16 200 200
Capital redemption reserve 17 2 2
Retained earnings 17 2,807,717 2,386,071
SHAREHOLDERS' FUNDS 2,807,919 2,386,273

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Ian Kerr McEwan - Director


A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,514,918 829,317
Interest paid (115 ) -
Tax paid (103,742 ) (135,316 )
Net cash from operating activities 1,411,061 694,001

Cash flows from investing activities
Purchase of tangible fixed assets (39,073 ) (112,116 )
Sale of tangible fixed assets - 1,167
Interest received 6,779 414
Net cash from investing activities (32,294 ) (110,535 )

Cash flows from financing activities
Loan repayments in year (903,628 ) (250,096 )
Amount introduced by directors - 397
Amount withdrawn by directors (1,666 ) -
Equity dividends paid (306,672 ) (250,000 )
Net cash from financing activities (1,211,966 ) (499,699 )

Increase in cash and cash equivalents 166,801 83,767
Cash and cash equivalents at beginning of
year

2

2,492,598

2,408,831

Cash and cash equivalents at end of year 2 2,659,399 2,492,598

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 900,393 619,783
Depreciation charges 76,170 53,569
Loss/(profit) on disposal of fixed assets 99 (1,167 )
Finance costs 115 -
Finance income (6,779 ) (414 )
969,998 671,771
(Increase)/decrease in stocks (104,841 ) 5,915
Decrease in trade and other debtors 248,966 1,148,512
Increase/(decrease) in trade and other creditors 400,795 (996,881 )
Cash generated from operations 1,514,918 829,317

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 2,659,399 2,492,598
Year ended 31 March 2022
31/3/22 1/4/21
£    £   
Cash and cash equivalents 2,492,598 2,408,831


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/22 Cash flow At 31/3/23
£    £    £   
Net cash
Cash at bank and in hand 2,492,598 166,801 2,659,399
2,492,598 166,801 2,659,399
Total 2,492,598 166,801 2,659,399

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

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

1. STATUTORY INFORMATION

AKP Scotland Limited, is a private company, limited by shares, registered in Scotland. The company's registered number is SC122516 and registered office address is 31 Carron Place, Kelvin Industrial Estate, East Kilbride, Glasgow, G75 0YL.

The nature of the company's operations and its principal activities was that of project management services to the construction industry.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements & key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

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% - 25% on cost
Fixtures and fittings - 15% - 33.3% straight line
Motor vehicles - 25% on cost

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Stocks and long term contracts
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 stock.

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.

Net realisable value is based on estimated selling price less costs to completion and selling costs.

Long term contract work in progress is shown at net cost after deducting foreseeable losses and payments on account.

Turnover on long term contracts is determined on the basis of the stage of completion of each contract.

Operating profit includes attributable profit on long term contracts completed and amounts recoverable on contracts uncompleted, the latter also being included under debtors due within one year.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's balance sheet 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.


A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

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.

Rental income
Rental income is included in the period in which it is receivable.

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.
An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2023 2022
£    £   
Project management services 19,682,782 15,568,888
19,682,782 15,568,888

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,938,667 2,231,484
Social security costs 230,754 186,865
Other pension costs 49,300 82,177
3,218,721 2,500,526

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Office and administration 26 25
Labourers 18 17
44 42

2023 2022
£    £   
Directors' remuneration 312,489 173,130

Information regarding the highest paid director for the year ended 31 March 2023 is as follows:
2023
£   
Emoluments etc 101,964

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 115 -

6. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 76,170 53,569
Loss/(profit) on disposal of fixed assets 99 (1,167 )
Auditors' remuneration 12,000 12,000

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 182,409 103,742
Over provision in prior year - (170 )
Total current tax 182,409 103,572

Deferred tax:
Originating and reversal of
timing differences (10,334 ) 21,528
Tax on profit 172,075 125,100

UK corporation tax has been charged at 19% (2022 - 19%).

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 900,393 619,783
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

171,075

117,759

Effects of:
Expenses not deductible for tax purposes 3,480 (2,579 )
Capital allowances in excess of depreciation (2,480 ) -
Depreciation in excess of capital allowances - 10,035
Adjustments to tax charge in respect of previous periods - (170 )
deferred tax
Other timing differences - 55
Total tax charge 172,075 125,100

8. DIVIDENDS



20232022
£ £
Interim - 'B' Ordinary306,672250,000

306,672250,000


A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 58,496 380,317 169,886 608,699
Additions 8,326 8,247 22,500 39,073
Disposals (354 ) (129,802 ) - (130,156 )
At 31 March 2023 66,468 258,762 192,386 517,616
DEPRECIATION
At 1 April 2022 54,244 315,335 66,604 436,183
Charge for year 1,686 39,590 34,894 76,170
Eliminated on disposal (353 ) (129,704 ) - (130,057 )
At 31 March 2023 55,577 225,221 101,498 382,296
NET BOOK VALUE
At 31 March 2023 10,891 33,541 90,888 135,320
At 31 March 2022 4,252 64,982 103,282 172,516

10. STOCKS
2023 2022
£    £   
Stocks 6,113 9,503
Long term contracts - Work in
progress 609,575 501,344
615,688 510,847

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,157,204 1,183,846
Amounts owed by group undertakings 916 898,873
Amounts recoverable on long
term contracts 2,506,815 1,839,886
Prepayments 47,871 39,167
3,712,806 3,961,772

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,293,834 3,212,874
Amounts owed to group undertakings - 903,628
Corporation tax 182,409 103,742
Social security and other taxes 54,903 54,310
VAT 631,414 359,422
Director's current accounts - 1,666
Accrued expenses 121,733 74,483
4,284,293 4,710,125

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 11,500 11,500

14. FINANCIAL INSTRUMENTS

The carrying amount for each category of financial instrument is as follows:

2023 2022
£ £
Financial assets
Financial assets that are debt instruments measured at amortised cost 3,664,935 3,922,605
Cash and cash equivalents 2,659,399 2,492,598
7,426,369 6,415,203
Financial liabilities
Financial liabilities measured at amortised cost 3,293,834 4,118,168


15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 31,001 41,335

Deferred
tax
£   
Balance at 1 April 2022 41,335
Originating and reversal of (10,334 )
timing differences
Balance at 31 March 2023 31,001

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

15. PROVISIONS FOR LIABILITIES - continued

Deferred taxation provided for at 25% (2022: 19%) in the financial statements is set out below:

20232022
££

Accelerated capital allowances31,91342,247
Other timing differences(912)(912)
31,00141,335

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 'A' Ordinary £1 100 100

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 'B' Ordinary £1 100 100

17. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2022 2,386,071 2 2,386,073
Profit for the year 728,318 728,318
Dividends (306,672 ) (306,672 )
At 31 March 2023 2,807,717 2 2,807,719

Retained earnings
Includes all current and prior year retained profits and losses less dividends.

Capital redemption reserve
Includes amounts arising from the redemption of shares from capital.

18. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in various independently administered funds. The pension cost charge represents contributions payable by the company to the fund and amounted to £49,300 (2022 - £82,177) including contributions in respect of employees. There were outstanding contributions payable to the fund amounting to £5,519 at 31 March 2023 (2022 - £7,396).

19. ULTIMATE PARENT COMPANY

The ultimate parent company is AKP Group Limited, a company incorporated in Scotland.

A K P SCOTLAND LIMITED (REGISTERED NUMBER: SC122516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 March 2023 the director was owed £nil (2022 - £1,660) by the company.

21. RELATED PARTY DISCLOSURES

During the period the company paid rent amounting to £46,000 (2022 - £46,000) to AKP Contracts Limited SSAS of which the director, Ian McEwan, is a beneficiary.

At 31 March 2023 the company owed £Nil (2022 - £903,628) to its holding company, AKP Holdings Limited and was owed £916 ( 2022 - £898,873) by AKP Group Limited, it's ultimate holding company.

All directors and certain senior employees who have authority and responsibility for planning, directing and controlling the activities of the company are considered to be key management personnel. Total remuneration in respect of these individuals is £312,489 (2022 - £173,130).

22. POST BALANCE SHEET EVENTS

On 22nd June 2023, the company purchased the premises they operate from for £500,000 from AKP Contracts Limited SSAS.

23. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director I McEwan, by virtue of his shareholding in the ultimate parent company.