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REGISTERED NUMBER: SC338013 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AMD CONTRACT SERVICES LIMITED

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AMD CONTRACT SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr F W Dykes
Mrs M Dykes



REGISTERED OFFICE: 1 Old Irongray Road
Dumfries
Dumfries & Galloway
DG2 0BJ



REGISTERED NUMBER: SC338013 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: Royal Bank of Scotland
Dumfries Whitesands Branch
68 Whitesands
Dumfries
DG1 2PG

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 5,484,531 5,731,234
5,484,531 5,731,234

CURRENT ASSETS
Inventories 6 550,154 535,154
Debtors 7 1,660,059 1,643,523
Cash at bank 68,384 72,631
2,278,597 2,251,308
CREDITORS
Amounts falling due within one year 8 3,125,385 2,940,254
NET CURRENT LIABILITIES (846,788 ) (688,946 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,637,743

5,042,288

CREDITORS
Amounts falling due after more than one
year

9

(1,876,490

)

(2,389,234

)

PROVISIONS FOR LIABILITIES (773,936 ) (777,390 )
NET ASSETS 1,987,317 1,875,664

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 1,986,317 1,874,664
SHAREHOLDERS' FUNDS 1,987,317 1,875,664

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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.

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 9 October 2024 and were signed on its behalf by:





Mr F W Dykes - Director


AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

AMD Contract 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 as modified by the revaluation of certain assets.

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Stock Valuation
The Company assesses the carrying value of stock on at least an annual basis, taking into consideration when each item was purchased and the Company's ability to sell that particular item. Where it is considered the net realisable value of stock has fallen below its' original cost, a provision is made by Management gainst the stock value in the financial statements.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application of FRS 102
The Company has considered and taken advantage of the following exemptions in its application of FRS 102:
i) The Company has not revisited previous accounting estimates

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Plant hire sales turnover is recognised when a sales contract is signed by the customer and workshop turnover is recognised when the goods and services are delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met.Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 54 ) .

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

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 70,000
AMORTISATION
At 1 April 2023
and 31 March 2024 70,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 April 2023 864,531 292,240 7,184,912
Additions - 27,386 926,895
Disposals - - (862,623 )
At 31 March 2024 864,531 319,626 7,249,184
DEPRECIATION
At 1 April 2023 - 141,889 2,742,994
Charge for year - 40,493 710,074
Eliminated on disposal - - (457,264 )
At 31 March 2024 - 182,382 2,995,804
NET BOOK VALUE
At 31 March 2024 864,531 137,244 4,253,380
At 31 March 2023 864,531 150,351 4,441,918

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 125,699 513,578 8,980,960
Additions 2,076 20,377 976,734
Disposals - (2,811 ) (865,434 )
At 31 March 2024 127,775 531,144 9,092,260
DEPRECIATION
At 1 April 2023 62,244 302,600 3,249,727
Charge for year 9,710 56,899 817,176
Eliminated on disposal - (1,910 ) (459,174 )
At 31 March 2024 71,954 357,589 3,607,729
NET BOOK VALUE
At 31 March 2024 55,821 173,555 5,484,531
At 31 March 2023 63,455 210,978 5,731,233

Cost or valuation at 31 March 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2024 864,531 319,626 7,249,184

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2024 127,775 531,144 9,092,260

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 6,479,570 287,006 6,766,576
Additions 903,050 20,377 923,427
Disposals (397,110 ) - (397,110 )
Transfer to ownership (1,418,485 ) (126,649 ) (1,545,134 )
At 31 March 2024 5,567,025 180,734 5,747,759
DEPRECIATION
At 1 April 2023 1,855,308 70,628 1,925,936
Charge for year 620,801 48,991 669,792
Eliminated on disposal (171,324 ) - (171,324 )
Transfer to ownership (400,705 ) (59,351 ) (460,056 )
At 31 March 2024 1,904,080 60,268 1,964,348
NET BOOK VALUE
At 31 March 2024 3,662,945 120,466 3,783,411
At 31 March 2023 4,624,262 216,378 4,840,640

6. INVENTORIES
2024 2023
£    £   
Stocks 550,154 535,154

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,262,474 1,364,401
Other debtors 397,585 279,122
1,660,059 1,643,523

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 867,332 850,256
Hire purchase contracts 970,545 978,845
Trade creditors 981,406 810,316
Taxation and social security 170,450 124,462
Other creditors 135,652 176,375
3,125,385 2,940,254

AMD CONTRACT SERVICES LIMITED (REGISTERED NUMBER: SC338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 306,886 484,357
Hire purchase contracts 1,569,604 1,904,877
1,876,490 2,389,234

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 2,540,149 2,883,722

Hire purchase creditors are secured by a bond and floating charge over the asset to which they relate to.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1 April 2023 1,874,663
Profit for the year 267,654
Dividends (156,000 )
At 31 March 2024 1,986,317

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr F W Dykes
Balance outstanding at start of year (105,428 ) (746 )
Amounts advanced 440,456 119,006
Amounts repaid (288,568 ) (223,688 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,460 (105,428 )