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REGISTERED NUMBER: SC334851 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R C Stevenson
C Stevenson





SECRETARY: C Stevenson





REGISTERED OFFICE: 2 Canyon Road
Netherton Industrial Estate
Wishaw
ML2 0EG





REGISTERED NUMBER: SC334851 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 153,206 90,998
153,206 90,998

CURRENT ASSETS
Stocks 35,200 35,230
Debtors 6 387,287 302,845
Cash at bank 84,826 49,030
507,313 387,105
CREDITORS
Amounts falling due within one year 7 229,689 157,092
NET CURRENT ASSETS 277,624 230,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

430,830

321,011

CREDITORS
Amounts falling due after more than one
year

8

(96,974

)

(96,291

)

PROVISIONS FOR LIABILITIES (38,302 ) (17,290 )
NET ASSETS 295,554 207,430

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 294,554 206,430
295,554 207,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





R C Stevenson - Director


SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Specialist Building & Asbestos Services Limited 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.

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 stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Goodwill
Goodwill represents the excess of cost of acquisition of unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful left and is amortised on a systematic basis over its expected life, which is 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 10% on cost
Plant & machinery - 20% on cost
Office equipment - 20% on cost
Motor vehicles - 25% on cost

Stocks
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 items.

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.

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.


SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Government grants
Government grants are eligible for recognition within the financial statements once they become receivable

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 110,000
AMORTISATION
At 1 April 2023
and 31 March 2024 110,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Property Plant & Office Motor
improvements machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 10,400 74,478 2,711 47,645 135,234
Additions - 7,000 - 101,705 108,705
Disposals - - - (14,950 ) (14,950 )
At 31 March 2024 10,400 81,478 2,711 134,400 228,989
DEPRECIATION
At 1 April 2023 2,916 12,769 2,711 25,840 44,236
Charge for year 1,040 14,420 - 25,743 41,203
Eliminated on disposal - - - (9,656 ) (9,656 )
At 31 March 2024 3,956 27,189 2,711 41,927 75,783
NET BOOK VALUE
At 31 March 2024 6,444 54,289 - 92,473 153,206
At 31 March 2023 7,484 61,709 - 21,805 90,998

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 161,197 108,320
Other debtors 226,090 194,525
387,287 302,845

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 8,094 7,115
Hire purchase contracts (see note 9) 24,462 9,573
Trade creditors 37,287 21,689
Taxation and social security 19,676 23,506
Other creditors 140,170 95,209
229,689 157,092

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 32,769 45,843
Hire purchase contracts (see note 9) 46,269 9,207
Other creditors 17,936 41,241
96,974 96,291

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 24,462 9,573
Between one and five years 46,269 9,207
70,731 18,780

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 7,110 20,801
Between one and five years 11,516 11,444
18,626 32,245

SPECIALIST BUILDING & ASBESTOS SERVICES
LIMITED (REGISTERED NUMBER: SC334851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
C Stevenson and R C Stevenson
Balance outstanding at start of year 3,810 11,461
Amounts advanced 63,515 81,325
Amounts repaid (67,339 ) (88,976 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14 ) 3,810

Loans to/from directors are interest free and repayable upon demand.

11. RELATED PARTY DISCLOSURES

At 31 March 2024 there is an other debtor of £207,962 (2023 £167,249) due from SB & AS Holdings Ltd, the parent company.

12. ULTIMATE CONTROLLING PARTY

At 31 March 2024 the company was under the control of the parent company SB & AS Holdings Ltd, whose registered office is 2 Canyon Road, Netherton Industrial Estate, Wishaw ML2 0EG. SB & AS Holdings Ltd holds 100% of the company share capital.