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REGISTERED NUMBER: SC574181 (Scotland)















Unaudited Financial Statements for the Year Ended 30 August 2023

for

Advanced Engineering Design Ltd

Advanced Engineering Design Ltd (Registered number: SC574181)






Contents of the Financial Statements
for the Year Ended 30 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Advanced Engineering Design Ltd

Company Information
for the Year Ended 30 August 2023







DIRECTOR: G Pollock





REGISTERED OFFICE: 176
Saint Vincent Street
Glasgow
G25SG





REGISTERED NUMBER: SC574181 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

Advanced Engineering Design Ltd (Registered number: SC574181)

Balance Sheet
30 August 2023

30.8.23 30.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,718 8,681

CURRENT ASSETS
Stocks 9,500 9,500
Debtors 5 529,368 571,123
Cash at bank 589,252 739,840
1,128,120 1,320,463
CREDITORS
Amounts falling due within one year 6 651,392 871,764
NET CURRENT ASSETS 476,728 448,699
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,446

457,380

CREDITORS
Amounts falling due after more than one
year

7

(24,630

)

(33,678

)

PROVISIONS FOR LIABILITIES (799 ) (1,649 )
NET ASSETS 455,017 422,053

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 454,917 421,953
455,017 422,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Advanced Engineering Design Ltd (Registered number: SC574181)

Balance Sheet - continued
30 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





G Pollock - Director


Advanced Engineering Design Ltd (Registered number: SC574181)

Notes to the Financial Statements
for the Year Ended 30 August 2023

1. STATUTORY INFORMATION

Advanced Engineering Design Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer, usually on despatch of the goods, if 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.

Tangible fixed assets
Tangible fixed assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.

Depreciation is provided at rates selected to write the cost of the asset less it's estimated residual value off evenly over the expected life of the asset as follows:

AssetExpected lifedepreciation methodannual rate
Plant and machinery10 yearsstraight line10%
Computers and electronic plant3 yearsstraight line33 1/3%

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 carry value of the asset exceeds its recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Advanced Engineering Design Ltd (Registered number: SC574181)

Notes to the Financial Statements - continued
for the Year Ended 30 August 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows:
Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.

All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price, and are subsequently measured at fair value, with any changes recognised in profit or loss.

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.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

Advanced Engineering Design Ltd (Registered number: SC574181)

Notes to the Financial Statements - continued
for the Year Ended 30 August 2023

2. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 August 2022
and 30 August 2023 39,968
DEPRECIATION
At 31 August 2022 31,287
Charge for year 4,963
At 30 August 2023 36,250
NET BOOK VALUE
At 30 August 2023 3,718
At 30 August 2022 8,681

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.23 30.8.22
£    £   
Trade debtors 408,141 449,896
Other debtors 121,227 121,227
529,368 571,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.23 30.8.22
£    £   
Bank loans and overdrafts 9,048 9,048
Trade creditors 13,285 3,936
Taxation and social security 552,855 719,508
Other creditors 76,204 139,272
651,392 871,764

Advanced Engineering Design Ltd (Registered number: SC574181)

Notes to the Financial Statements - continued
for the Year Ended 30 August 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.8.23 30.8.22
£    £   
Bank loans 24,630 33,678

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Transactions with G Pollock (Director)

30.8.2330.8.22
£ £
Amount due to director at 31 August 2022100,006379,457
Payments to director(355,368)(82,637)
Receipts from director282,604562,100
Amount due to director at 30 August 202327,242100,006