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REGISTERED NUMBER: SC589415 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

FM CONSTRUCTION (GRAMPIAN) LTD

FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)






Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FM CONSTRUCTION (GRAMPIAN) LTD

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: S J Fraser





REGISTERED OFFICE: First Floor 5 Abercrombie Court
Prospect Road
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6FE





REGISTERED NUMBER: SC589415 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)

Balance Sheet
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,804 31,158

CURRENT ASSETS
Stocks 5 10,230 14,259
Debtors 6 29,509 31,377
Cash at bank 21,776 64,820
61,515 110,456
CREDITORS
Amounts falling due within one year 7 49,815 46,843
NET CURRENT ASSETS 11,700 63,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,504

94,771

CREDITORS
Amounts falling due after more than one year 8 (35,001 ) (43,919 )

PROVISIONS FOR LIABILITIES 9 (9,546 ) (5,722 )
NET ASSETS 17,957 45,130

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,857 45,030
SHAREHOLDERS' FUNDS 17,957 45,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)

Balance Sheet - continued
29 FEBRUARY 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 director and authorised for issue on 14 November 2024 and were signed by:





S J Fraser - Director


FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

FM Construction (Grampian) 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.

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.

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 cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 15% 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.

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.

FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 36,952 416 9,105 1,931 48,404
Additions 4,628 - 28,450 - 33,078
Disposals - - (5,475 ) - (5,475 )
At 29 February 2024 41,580 416 32,080 1,931 76,007
DEPRECIATION
At 1 March 2023 6,909 141 9,105 1,091 17,246
Charge for year 5,966 63 7,113 290 13,432
Eliminated on disposal - - (5,475 ) - (5,475 )
At 29 February 2024 12,875 204 10,743 1,381 25,203
NET BOOK VALUE
At 29 February 2024 28,705 212 21,337 550 50,804
At 28 February 2023 30,043 275 - 840 31,158

FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 28,450
At 29 February 2024 28,450
DEPRECIATION
Charge for year 7,113
At 29 February 2024 7,113
NET BOOK VALUE
At 29 February 2024 21,337

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 2,300 5,500
Work-in-progress 7,930 8,759
10,230 14,259

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 29,180 19,569
Other debtors 174 11,543
Prepayments 155 265
29,509 31,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,200 5,200
Hire purchase contracts 14,067 9,135
Trade creditors 24,372 23,550
Social security and other taxes 512 1,579
VAT 5,087 6,245
Other creditors - 567
Directors' current accounts 492 492
Accrued expenses 85 75
49,815 46,843

FM CONSTRUCTION (GRAMPIAN) LTD (REGISTERED NUMBER: SC589415)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 5,200 5,200
Bank loans - 2-5 years 22,165 27,300
Hire purchase contracts 7,636 11,419
35,001 43,919

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 9,546 5,722

Deferred
tax
£   
Balance at 1 March 2023 5,722
Movement during the year 3,824
Balance at 29 February 2024 9,546