6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,250 250 125 375 875 1,000 xbrli:pure xbrli:shares iso4217:GBP SC439637 2023-03-01 2024-02-29 SC439637 2024-02-29 SC439637 2023-02-28 SC439637 2022-03-01 2023-02-28 SC439637 2023-02-28 SC439637 2022-02-28 SC439637 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC439637 core:MotorVehicles 2023-03-01 2024-02-29 SC439637 bus:Director1 2023-03-01 2024-02-29 SC439637 core:LandBuildings 2023-02-28 SC439637 core:PlantMachinery 2023-02-28 SC439637 core:MotorVehicles 2023-02-28 SC439637 core:LandBuildings 2024-02-29 SC439637 core:PlantMachinery 2024-02-29 SC439637 core:MotorVehicles 2024-02-29 SC439637 core:LandBuildings 2023-03-01 2024-02-29 SC439637 core:PlantMachinery 2023-03-01 2024-02-29 SC439637 core:WithinOneYear 2024-02-29 SC439637 core:WithinOneYear 2023-02-28 SC439637 core:AfterOneYear 2024-02-29 SC439637 core:AfterOneYear 2023-02-28 SC439637 core:ShareCapital 2024-02-29 SC439637 core:ShareCapital 2023-02-28 SC439637 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC439637 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC439637 core:LandBuildings 2023-02-28 SC439637 core:PlantMachinery 2023-02-28 SC439637 core:MotorVehicles 2023-02-28 SC439637 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-02-29 SC439637 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-02-28 SC439637 bus:SmallEntities 2023-03-01 2024-02-29 SC439637 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC439637 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC439637 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC439637 bus:FullAccounts 2023-03-01 2024-02-29 SC439637 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 SC439637 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 SC439637 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-02-29 SC439637 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-02-28 SC439637 core:FurnitureFittingsToolsEquipment 2023-02-28 SC439637 core:FurnitureFittingsToolsEquipment 2024-02-29 SC439637 core:KeyManagementIndividualGroup1 2023-03-01 2024-02-29 SC439637 core:KeyManagementIndividualGroup1 2024-02-29 SC439637 core:EntitiesControlledByKeyManagementPersonnel 2023-03-01 2024-02-29 SC439637 core:EntitiesControlledByKeyManagementPersonnel 2024-02-29
COMPANY REGISTRATION NUMBER: SC439637
Alan M Ross (Sand & Gravel) Limited
Filleted Unaudited Financial Statements
29 February 2024
Alan M Ross (Sand & Gravel) Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
875
1,000
Tangible assets
6
1,021,309
1,110,453
------------
------------
1,022,184
1,111,453
Current assets
Debtors
7
156,613
173,114
Creditors: amounts falling due within one year
8
762,492
763,813
---------
---------
Net current liabilities
605,879
590,699
------------
------------
Total assets less current liabilities
416,305
520,754
Creditors: amounts falling due after more than one year
9
139,683
262,806
---------
---------
Net assets
276,622
257,948
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
276,621
257,947
---------
---------
Shareholders funds
276,622
257,948
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alan M Ross (Sand & Gravel) Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr A M Ross
Director
Company registration number: SC439637
Alan M Ross (Sand & Gravel) Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Balachladich Quarry, Wester Urray, Muir of Ord, IV6 7UL, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Private number plates
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
6% straight line
Plant and machinery
-
Variable rates depending on asset
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
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 carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. 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. 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. 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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Intangible assets
Private number plates
£
Cost
At 1 March 2023 and 29 February 2024
1,250
-------
Amortisation
At 1 March 2023
250
Charge for the year
125
-------
At 29 February 2024
375
-------
Carrying amount
At 29 February 2024
875
-------
At 28 February 2023
1,000
-------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
94,079
1,542,743
14,791
14,404
1,666,017
Additions
30,750
25,143
55,893
Disposals
( 14,791)
( 14,791)
--------
------------
--------
--------
------------
At 29 February 2024
94,079
1,573,493
25,143
14,404
1,707,119
--------
------------
--------
--------
------------
Depreciation
At 1 March 2023
55,648
473,364
13,549
13,003
555,564
Charge for the year
6,272
133,361
3,629
533
143,795
Disposals
( 13,549)
( 13,549)
--------
------------
--------
--------
------------
At 29 February 2024
61,920
606,725
3,629
13,536
685,810
--------
------------
--------
--------
------------
Carrying amount
At 29 February 2024
32,159
966,768
21,514
868
1,021,309
--------
------------
--------
--------
------------
At 28 February 2023
38,431
1,069,379
1,242
1,401
1,110,453
--------
------------
--------
--------
------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 29 February 2024
459,649
---------
At 28 February 2023
518,768
---------
7. Debtors
2024
2023
£
£
Trade debtors
136,860
154,470
Other debtors
19,753
18,644
---------
---------
156,613
173,114
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
70,747
52,421
Trade creditors
72,402
39,072
Social security and other taxes
21,698
14,007
Other creditors
597,645
658,313
---------
---------
762,492
763,813
---------
---------
HSBC Bank plc hold a floating charge over the company's assets.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
38,667
67,667
Other creditors
101,016
195,139
---------
---------
139,683
262,806
---------
---------
10. Related party transactions
At the year end date the company owed the director £ 342,047 (2023 - £329,937). This loan is interest free and has no definite repayment terms . During the year the company made purchases of £77,050 (2023 - £74,550) to hire plant from a company in which the director is a director and shareholder . Included in trade creditors is £ 26,972 (2023 - £11,912) due to this company. At the year end date the company was owed £ 180 by this company (2023 - owed £70,000 to this company). This loan is interest free and has no definite terms of repayment .