Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Mr J M Cowan 05/11/2007 Mr P Naughton 05/11/2007 Mr B W Pitkethley 05/11/2007 16 August 2024 The principal activity of the Company during the financial year continued to be that of draughtsmen. SC333423 2023-11-30 SC333423 bus:Director1 2023-11-30 SC333423 bus:Director2 2023-11-30 SC333423 bus:Director3 2023-11-30 SC333423 2022-11-30 SC333423 core:CurrentFinancialInstruments 2023-11-30 SC333423 core:CurrentFinancialInstruments 2022-11-30 SC333423 core:ShareCapital 2023-11-30 SC333423 core:ShareCapital 2022-11-30 SC333423 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC333423 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC333423 core:Goodwill 2022-11-30 SC333423 core:Goodwill 2023-11-30 SC333423 core:PlantMachinery 2022-11-30 SC333423 core:ComputerEquipment 2022-11-30 SC333423 core:PlantMachinery 2023-11-30 SC333423 core:ComputerEquipment 2023-11-30 SC333423 bus:OrdinaryShareClass1 2023-11-30 SC333423 2022-12-01 2023-11-30 SC333423 bus:FilletedAccounts 2022-12-01 2023-11-30 SC333423 bus:SmallEntities 2022-12-01 2023-11-30 SC333423 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC333423 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC333423 bus:Director1 2022-12-01 2023-11-30 SC333423 bus:Director2 2022-12-01 2023-11-30 SC333423 bus:Director3 2022-12-01 2023-11-30 SC333423 core:Goodwill core:TopRangeValue 2022-12-01 2023-11-30 SC333423 core:PlantMachinery 2022-12-01 2023-11-30 SC333423 core:ComputerEquipment 2022-12-01 2023-11-30 SC333423 2021-12-01 2022-11-30 SC333423 core:Goodwill 2022-12-01 2023-11-30 SC333423 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC333423 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC333423 (Scotland)

ACE STRUCTURAL DRAUGHTING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

ACE STRUCTURAL DRAUGHTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

ACE STRUCTURAL DRAUGHTING LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023
ACE STRUCTURAL DRAUGHTING LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 30,000 37,500
Tangible assets 4 1,633 1,921
31,633 39,421
Current assets
Debtors 5 59,885 31,171
Cash at bank and in hand 83,539 82,585
143,424 113,756
Creditors: amounts falling due within one year 6 ( 76,876) ( 62,681)
Net current assets 66,548 51,075
Total assets less current liabilities 98,181 90,496
Provision for liabilities 7 ( 408) ( 244)
Net assets 97,773 90,252
Capital and reserves
Called-up share capital 8 300 300
Profit and loss account 97,473 89,952
Total shareholders' funds 97,773 90,252

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ace Structural Draughting Limited (registered number: SC333423) were approved and authorised for issue by the Board of Directors on 16 August 2024. They were signed on its behalf by:

Mr B W Pitkethley
Director
ACE STRUCTURAL DRAUGHTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
ACE STRUCTURAL DRAUGHTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ace Structural Draughting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Dalziel Building, 7 Scott Street, Motherwell, ML1 1PN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover from architectural services is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Computer equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets which include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 150,000 150,000
At 30 November 2023 150,000 150,000
Accumulated amortisation
At 01 December 2022 112,500 112,500
Charge for the financial year 7,500 7,500
At 30 November 2023 120,000 120,000
Net book value
At 30 November 2023 30,000 30,000
At 30 November 2022 37,500 37,500

4. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 December 2022 4,497 24,123 28,620
At 30 November 2023 4,497 24,123 28,620
Accumulated depreciation
At 01 December 2022 2,576 24,123 26,699
Charge for the financial year 288 0 288
At 30 November 2023 2,864 24,123 26,987
Net book value
At 30 November 2023 1,633 0 1,633
At 30 November 2022 1,921 0 1,921

5. Debtors

2023 2022
£ £
Trade debtors 52,296 23,102
Other debtors 7,589 8,069
59,885 31,171

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,300 8,845
Taxation and social security 61,343 41,564
Other creditors 14,233 12,272
76,876 62,681

7. Provision for liabilities

2023 2022
£ £
Deferred tax 408 244

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to key management personnel 12,533 10,733

This loan is interest free and has no fixed repayment terms.