Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-316false2023-01-01falseFarming6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC165087 2023-01-01 2023-12-31 SC165087 2022-01-01 2022-12-31 SC165087 2023-12-31 SC165087 2022-12-31 SC165087 c:CompanySecretary1 2023-01-01 2023-12-31 SC165087 c:Director1 2023-01-01 2023-12-31 SC165087 c:Director2 2023-01-01 2023-12-31 SC165087 c:Director3 2023-01-01 2023-12-31 SC165087 c:Director4 2023-01-01 2023-12-31 SC165087 c:RegisteredOffice 2023-01-01 2023-12-31 SC165087 d:Buildings 2023-01-01 2023-12-31 SC165087 d:Buildings 2023-12-31 SC165087 d:Buildings 2022-12-31 SC165087 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC165087 d:PlantMachinery 2023-01-01 2023-12-31 SC165087 d:PlantMachinery 2023-12-31 SC165087 d:PlantMachinery 2022-12-31 SC165087 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC165087 d:MotorVehicles 2023-01-01 2023-12-31 SC165087 d:MotorVehicles 2023-12-31 SC165087 d:MotorVehicles 2022-12-31 SC165087 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC165087 d:ComputerEquipment 2023-01-01 2023-12-31 SC165087 d:ComputerEquipment 2023-12-31 SC165087 d:ComputerEquipment 2022-12-31 SC165087 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC165087 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC165087 d:CurrentFinancialInstruments 2023-12-31 SC165087 d:CurrentFinancialInstruments 2022-12-31 SC165087 d:Non-currentFinancialInstruments 2023-12-31 SC165087 d:Non-currentFinancialInstruments 2022-12-31 SC165087 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC165087 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC165087 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC165087 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC165087 d:ShareCapital 2023-12-31 SC165087 d:ShareCapital 2022-12-31 SC165087 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC165087 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC165087 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC165087 c:OrdinaryShareClass1 2023-12-31 SC165087 c:OrdinaryShareClass1 2022-12-31 SC165087 c:FRS102 2023-01-01 2023-12-31 SC165087 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC165087 c:FullAccounts 2023-01-01 2023-12-31 SC165087 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC165087 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC165087










GB & AM ANDERSON LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
GB & AM ANDERSON LIMITED
 

COMPANY INFORMATION


Directors
G B Anderson 
A M Anderson 
B G Anderson 
N A Anderson 




Company secretary
A M Anderson



Registered number
SC165087



Registered office
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
GB & AM ANDERSON LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GB & AM ANDERSON LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GB & AM Anderson Limited for the year ended 31 December 2023 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of GB & AM Anderson Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2024Our work has been undertaken solely to prepare for your approval the financial statements of GB & AM Anderson Limited and state those matters that we have agreed to state to the Board of directors of GB & AM Anderson Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GB & AM Anderson Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that GB & AM Anderson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GB & AM Anderson Limited. You consider that GB & AM Anderson Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of GB & AM Anderson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



EQ Accountants Limited
 
Chartered Accountants
  
14 City Quay
Dundee
DD1 3JA
18 April 2024
Page 1

 
GB & AM ANDERSON LIMITED
REGISTERED NUMBER: SC165087

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
1,249,345
1,174,602

Investments
 5 
568
568

  
1,249,913
1,175,170

Current assets
  

Stocks
  
119,128
160,119

Debtors
 6 
165,747
141,375

Cash at bank and in hand
  
76,622
-

  
361,497
301,494

Creditors: amounts falling due within one year
 7 
(337,275)
(245,522)

Net current assets
  
 
 
24,222
 
 
55,972

Total assets less current liabilities
  
1,274,135
1,231,142

Creditors: amounts falling due after more than one year
 8 
-
(13,415)

Provisions for liabilities
  

Deferred tax
  
(38,735)
(29,645)

  
 
 
(38,735)
 
 
(29,645)

Net assets
  
1,235,400
1,188,082


Capital and reserves
  

Called up share capital 
 9 
350,100
350,100

Profit and loss account
  
885,300
837,982

  
1,235,400
1,188,082


Page 2

 
GB & AM ANDERSON LIMITED
REGISTERED NUMBER: SC165087

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 year 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 17 March 2024.




G B Anderson
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
GB & AM ANDERSON LIMITED
 

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

1.


General information

GB & AM Anderson Limited is a limited company incorporated in Scotland. The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principle place of business is Seafield House, Lerwick, Shetland, ZE1 0RN.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
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.

Page 4

 
GB & AM ANDERSON LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year 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 income 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.

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

Depreciation is provided on the following basis:

Plant and equipment
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
12.5% reducing balance

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.

Page 5

 
GB & AM ANDERSON LIMITED
 

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

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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

Page 6

 
GB & AM ANDERSON LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Heritable property
Plant & machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
948,838
265,138
56,557
2,214
1,272,747


Additions
40,705
10,826
77,669
975
130,175


Disposals
(1,306)
(338)
(4,151)
-
(5,795)



At 31 December 2023

988,237
275,626
130,075
3,189
1,397,127



Depreciation


At 1 January 2023
-
68,848
28,566
731
98,145


Charge for the year on owned assets
-
25,863
25,978
307
52,148


Disposals
-
(111)
(2,400)
-
(2,511)



At 31 December 2023

-
94,600
52,144
1,038
147,782



Net book value



At 31 December 2023
988,237
181,026
77,931
2,151
1,249,345



At 31 December 2022
948,838
196,290
27,991
1,483
1,174,602


5.


Fixed asset investments





Trade investments

£





At 1 January 2023
568




Page 7

 
GB & AM ANDERSON LIMITED
 

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

6.


Debtors


2023
2022
£
£



Trade debtors
123,823
68,193

Other debtors
41,924
73,182

165,747
141,375



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
81,083

Trade creditors
30,126
41,174

Accruals and deferred income
40,916
40,634

Obligations under finance lease and hire purchase contracts
13,415
13,415

Other taxation and social security
75,081
29,094

Other creditors
177,737
40,122

337,275
245,522



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
13,415

-
13,415



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



350,100 (2022 - 350,100) Ordinary shares of £1.00 each
350,100
350,100



Page 8