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REGISTERED NUMBER: SC312487 (Scotland)















Strategic Report, Report of the Directors and

Financial Statements For The Year Ended 30 November 2023

for

Andrew Strain Construction Limited

Andrew Strain Construction Limited (Registered number: SC312487)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 15


Andrew Strain Construction Limited

Company Information
For The Year Ended 30 November 2023







DIRECTORS: A C Strain
C Eason
P Duffy





REGISTERED OFFICE: Unit 17 Colvilles Park
East Kilbride
Glasgow
G75 0GZ





REGISTERED NUMBER: SC312487 (Scotland)





INDEPENDENT AUDITORS: Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Andrew Strain Construction Limited (Registered number: SC312487)

Strategic Report
For The Year Ended 30 November 2023

The directors present their strategic report for the year ended 30 November 2023.

REVIEW OF BUSINESS
The director aims to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties faced.

The business has seen a period of continued growth in the year despite rising global costs, cost of living crisis and a challenging marketplace. The company has continued to grow its turnover with an annual increase of with turnover increasing by 34%. A strong management team, effective cost control, expansion into new sectors and ongoing development of staff have all contributed towards the continued growth of the company.

The Statement of Financial Position on page 9 of the financial statements shows that the company's net assets have also improved over the previous year. Net assets have increased by 53% to £2,906,315 (2022: £1,894,427).

The company's directors aim to continue to develop, expand and grow the business over the coming year with continued investment in IT and it's staff to facilitate expected future growth.

PRINCIPAL RISKS AND UNCERTAINTIES
The company takes all necessary measures to identify and manage risks to the business.

The principal risks and uncertainties affecting the business include the following:

Contract risk: the company conducts a significant element of its business under customer contracts. The main perceived risk in year ahead will be the impact of substantial price increases, particularly in relation to materials and fuel. The situation is being closely monitored and with robust tendering procedures and effective operational management the directors are confident that any negative effects will be minimised.

Health and safety: health and safety risks are continually assessed by management and we constantly look to ensure that we provide a safe working environment for all.

Commercial relationships: the Company maintains strong relationships with its key customers, with appropriate credit terms agreed and closely managed. The business also maintains a credit insurance policy covering credit lines in the event of default.

DEVELOPMENT AND PERFORMANCE
The company continues to focus on its core business of groundworks and since the year end has continued to be successful in winning significant levels of new work. The company has diversified into the corporate sector in the year and continues to develop within this sector. The social housing sector remains a key source of income for the company. The directors continue to monitor and manage the market conditions to ensure the company remains proactive to change.


Andrew Strain Construction Limited (Registered number: SC312487)

Strategic Report
For The Year Ended 30 November 2023

KEY PERFORMANCE INDICATORS
Key performance measures reviewed by the director and senior management team include; turnover, operating profit and net profit.

ON BEHALF OF THE BOARD:





A C Strain - Director


28 November 2024

Andrew Strain Construction Limited (Registered number: SC312487)

Report of the Directors
For The Year Ended 30 November 2023

The directors present their report with the financial statements of the company for the year ended 30 November 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of undertaking of groundwork contracts within the construction industry.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £1,450 per share.

The total distribution of dividends for the year ended 30 November 2023 will be £ 145,000 .

DIRECTOR
A C Strain held office during the whole of the period from 1 December 2022 to the date of this report.

Other changes in directors holding office are as follows:

C Eason and P Duffy were appointed as directors after 30 November 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





A C Strain - Director


28 November 2024

Report of the Independent Auditors to the Members of
Andrew Strain Construction Limited

Opinion
We have audited the financial statements of Andrew Strain Construction Limited (the 'company') for the year ended 30 November 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 November 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Andrew Strain Construction Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Andrew Strain Construction Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our wider knowledge and experience;
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and FRS 102.
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- Considering the internal controls in place, including banking controls, to mitigate risks of fraud and non-compliance with laws and regulations

Audit response to risks identified
To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and
- Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- Agreeing financial statement disclosures to underlying supporting documentation;
- Reading the minutes of meetings of those charged with governance;
- Enquiring of management as to actual and potential litigation and claims; and
- Reviewing correspondence with HMRC, Companies House and the company's legal advisors.
There are inherent limitations in our audit procedures described above.

The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Andrew Strain Construction Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Graham Cantlay (Senior Statutory Auditor)
for and on behalf of Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

28 November 2024

Andrew Strain Construction Limited (Registered number: SC312487)

Statement of Comprehensive
Income
For The Year Ended 30 November 2023

2023 2022
Notes £    £   

TURNOVER 26,059,847 19,504,946

Cost of sales 21,811,969 16,441,386
GROSS PROFIT 4,247,878 3,063,560

Administrative expenses 2,863,445 2,207,296
1,384,433 856,264

Other operating income - 251
OPERATING PROFIT 4 1,384,433 856,515


Interest payable and similar expenses 5 36,539 36,219
PROFIT BEFORE TAXATION 1,347,894 820,296

Tax on profit 6 191,106 211,664
PROFIT FOR THE FINANCIAL YEAR 1,156,788 608,632

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,156,788

608,632

Andrew Strain Construction Limited (Registered number: SC312487)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 790,916 858,730

CURRENT ASSETS
Debtors 10 5,202,359 6,100,469
Cash at bank and in hand 1,513,224 148,167
6,715,583 6,248,636
CREDITORS
Amounts falling due within one year 11 4,087,207 4,562,969
NET CURRENT ASSETS 2,628,376 1,685,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,419,292

2,544,397

CREDITORS
Amounts falling due after more than one year 12 (329,054 ) (434,437 )

PROVISIONS FOR LIABILITIES 16 (183,923 ) (215,433 )
NET ASSETS 2,906,315 1,894,527

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 2,906,215 1,894,427
SHAREHOLDERS' FUNDS 2,906,315 1,894,527

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





A C Strain - Director


Andrew Strain Construction Limited (Registered number: SC312487)

Statement of Changes in Equity
For The Year Ended 30 November 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2021 100 1,430,795 1,430,895

Changes in equity
Dividends - (145,000 ) (145,000 )
Total comprehensive income - 608,632 608,632
Balance at 30 November 2022 100 1,894,427 1,894,527

Changes in equity
Dividends - (145,000 ) (145,000 )
Total comprehensive income - 1,156,788 1,156,788
Balance at 30 November 2023 100 2,906,215 2,906,315

Andrew Strain Construction Limited (Registered number: SC312487)

Statement of Cash Flows
For The Year Ended 30 November 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,760,927 47,533
Interest paid (18,635 ) (14,656 )
Interest element of hire purchase payments
paid

(17,904

)

(21,563

)
Tax paid 113,850 (44,560 )
Net cash from operating activities 1,838,238 (33,246 )

Cash flows from investing activities
Purchase of tangible fixed assets (191,221 ) (325,242 )
Sale of tangible fixed assets - 74,000
Net cash from investing activities (191,221 ) (251,242 )

Cash flows from financing activities
Loan repayments in year (55,238 ) (29,459 )
Capital repayments in year (65,944 ) (142,128 )
Amount introduced by directors - 365,000
Amount withdrawn by directors (15,778 ) (238,650 )
Equity dividends paid (145,000 ) (145,000 )
Net cash from financing activities (281,960 ) (190,237 )

Increase/(decrease) in cash and cash equivalents 1,365,057 (474,725 )
Cash and cash equivalents at beginning of
year

2

148,167

622,892

Cash and cash equivalents at end of year 2 1,513,224 148,167

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Statement of Cash Flows
For The Year Ended 30 November 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2023 2022
£    £   
Profit before taxation 1,347,894 820,296
Depreciation charges 259,035 277,040
Profit on disposal of fixed assets - (41,334 )
Finance costs 36,539 36,219
1,643,468 1,092,221
Decrease/(increase) in trade and other debtors 898,111 (982,827 )
Decrease in trade and other creditors (780,652 ) (61,861 )
Cash generated from operations 1,760,927 47,533

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 1,513,224 148,167
Year ended 30 November 2022
30.11.22 1.12.21
£    £   
Cash and cash equivalents 148,167 628,646
Bank overdrafts - (5,754 )
148,167 622,892


Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Statement of Cash Flows
For The Year Ended 30 November 2023

3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.12.22 Cash flow At 30.11.23
£    £    £   
Net cash
Cash at bank and in hand 148,167 1,365,057 1,513,224
148,167 1,365,057 1,513,224
Debt
Finance leases (388,546 ) 65,944 (322,602 )
Debts falling due within 1 year (55,236 ) 5,520 (49,716 )
Debts falling due after 1 year (174,025 ) 49,718 (124,307 )
(617,807 ) 121,182 (496,625 )
Total (469,640 ) 1,486,239 1,016,599

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Andrew Strain Construction 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities reported at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Revenue on long term contracts for services is recognised according to the stage of completion reached on the contract by measuring a proportion of costs incurred for work performed to total estimated costs. Estimating the costs to completion and therefore the total contract costs is a key judgement in respect of revenue recognition on these contracts. Management bases their judgements of revenue and the assessment of the expected outcome of each contract on the latest information available. This includes contract valuations, and forecast costs to complete. The estimates of the contract positions and the profit or loss earned to date is updated regularly and the impact of any change in the accounting estimates are reflected in the financial statements.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. 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. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the income statement turnover and related costs as contract activity progresses. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value.

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.
Short leasehold - 7 years straight line
Fixed plant and equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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
2023 2022
£    £   
Wages and salaries 2,935,349 1,772,414
Social security costs 298,523 191,012
Other pension costs 102,619 63,340
3,336,491 2,026,766

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Staff 75 43

2023 2022
£    £   
Director's remuneration 12,570 12,570
Director's pension contributions to money purchase schemes 48,867 26,183

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 2,151,387 1,591,125
Depreciation - owned assets 174,982 183,844
Depreciation - assets on hire purchase contracts 84,053 93,196
Profit on disposal of fixed assets - (41,334 )
Auditors' remuneration 14,950 17,300

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 4,537 10,458
Bank loan interest 14,098 4,198
Hire purchase 17,904 21,563
36,539 36,219

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 222,617 156,438

Deferred tax (31,511 ) 55,226
Tax on profit 191,106 211,664

UK corporation tax has been charged at 23% (2022 - 19%).

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,347,894 820,296
Profit multiplied by the standard rate of corporation tax in the UK of 23%
(2022 - 19%)

310,016

155,856

Effects of:
Expenses not deductible for tax purposes 11,572 4,366
Income not taxable for tax purposes - (7,853 )
Depreciation in excess of capital allowances 15,488 4,100
Utilisation of tax losses - (31 )
R&D tax claim (114,460 ) -
Deferred tax (31,510 ) 55,226
Total tax charge 191,106 211,664

7. DIVIDENDS
2023 2022
£    £   
Ordinary shares shares of £1 each
Final 145,000 145,000

8. PRIOR PERIOD RECLASSIFICATION

In FY22, a balance of £4,029,876 in respect of amounts recoverable on contract was reported within Stock on the Statement of Financial Position. This has been reclassified in the comparative and reported as amounts recoverable on contract and included within Debtors.

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

9. TANGIBLE FIXED ASSETS
Fixed Fixtures
Short plant and and
leasehold equipment fittings
£    £    £   
COST
At 1 December 2022 96,646 1,315,010 25,681
Additions - 123,477 -
At 30 November 2023 96,646 1,438,487 25,681
DEPRECIATION
At 1 December 2022 27,614 623,930 11,024
Charge for year 13,806 203,640 3,664
At 30 November 2023 41,420 827,570 14,688
NET BOOK VALUE
At 30 November 2023 55,226 610,917 10,993
At 30 November 2022 69,032 691,080 14,657

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 109,941 63,915 1,611,193
Additions 56,625 11,119 191,221
At 30 November 2023 166,566 75,034 1,802,414
DEPRECIATION
At 1 December 2022 60,370 29,525 752,463
Charge for year 26,548 11,377 259,035
At 30 November 2023 86,918 40,902 1,011,498
NET BOOK VALUE
At 30 November 2023 79,648 34,132 790,916
At 30 November 2022 49,571 34,390 858,730

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixed
plant and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 December 2022 497,045 - 497,045
Additions - 56,625 56,625
At 30 November 2023 497,045 56,625 553,670
DEPRECIATION
At 1 December 2022 217,457 - 217,457
Charge for year 69,897 14,156 84,053
At 30 November 2023 287,354 14,156 301,510
NET BOOK VALUE
At 30 November 2023 209,691 42,469 252,160
At 30 November 2022 279,588 - 279,588

10. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 12,488 963,390
Amounts recoverable on contract 3,801,057 3,629,281
Other debtors 511,446 439,164
VAT 268,773 663,401
Prepayments - 4,638
4,593,764 5,699,874

Amounts falling due after more than one year:
Amounts recoverable on contract 608,595 400,595

Aggregate amounts 5,202,359 6,100,469

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 49,716 55,236
Hire purchase contracts (see note 14) 117,855 128,134
Trade creditors 3,262,929 3,873,960
Tax 384,066 47,599
Social security and other taxes 144,327 102,316
Other creditors - 208,828
Directors' current accounts 48,247 64,025
Accrued expenses 80,067 82,871
4,087,207 4,562,969

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 13) 124,307 174,025
Hire purchase contracts (see note 14) 204,747 260,412
329,054 434,437

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 49,716 55,236

Amounts falling due between one and two years:
Bank loans - 1-2 years 49,716 49,716

Amounts falling due between two and five years:
Bank loans - 2-5 years 74,591 124,309

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 117,855 128,134
Between one and five years 204,747 260,412
322,602 388,546

Non-cancellable operating leases
2023 2022
£    £   
Within one year 83,632 113,264
Between one and five years 130,382 146,410
In more than five years - 11,633
214,014 271,307

15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 174,023 229,261
Hire purchase contracts 322,602 388,546
496,625 617,807

The Royal Bank of Scotland plc hold a bond and floating charge over the whole property, undertaking and assets of the company.

RBS Invoice Finance Limited hold a floating charge over the whole property and undertaking of the company.

The Royal Bank of Scotland plc hold a charge over the property at 25 Bressay, East Kilbride, G74 4RZ.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 183,923 215,433

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 215,433
Provided during year (31,510 )
Balance at 30 November 2023 183,923

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

18. RESERVES
Retained
earnings
£   

At 1 December 2022 1,894,427
Profit for the year 1,156,788
Dividends (145,000 )
At 30 November 2023 2,906,215

Andrew Strain Construction Limited (Registered number: SC312487)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

19. RELATED PARTY DISCLOSURES

AS - Utilities Scotland Limited
Company with a common owner and director.

During the year the company made purchases from AS - Utilities Scotland Limited totalling £288,021 (2022: £310,396).

At the year end there was an amount due from AS - Utilities Scotland Limited of £167,446 (2022: £390,585).

Strain Plant Limited
Company with a common owner and director.

There were no purchases or sales made to/from Strain Plant Limited in the year (2022: £nil).

At the year end there was and no amount due to/from Strain Plant Limited (2022: £208,828 owed to). The company was dissolved during the year and the balance owed has been fully paid prior to the dissolution.

Distrikt Energy Limited
Company with a common owner and director.

There were no purchases or sales made to/from Distrikt Energy Limited in the year (2022: £nil).

At the year end there was an amount due from Distrikt Energy Limited of £56,800 (2022: £nil).

CS Luxury Transfer Limited
Company with a close member of family to the director.

There were no purchases or sales made to/from CS Luxury Transfer Limited in the year (2022: £nil).

During the year, the company extended a loan to CS Luxury Transfer Limited totalling £85,000.

At the year end there was an amount due from CS Luxury Transfer Limited of £83,000 (2022: £nil).

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company during the current financial year is B Strain. These shares were transferred to A Strain post year end who now holds 100% of the issued share capital.