0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,983,461 157,920 39,669 197,589 1,785,872 1,825,541 268,888 1,234 5,575 264,547 264,547 268,888 xbrli:pure xbrli:shares iso4217:GBP SC031638 2022-12-01 2023-11-30 SC031638 2023-11-30 SC031638 2022-11-30 SC031638 2021-12-01 2022-11-30 SC031638 2022-11-30 SC031638 2021-11-30 SC031638 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC031638 bus:Director1 2022-12-01 2023-11-30 SC031638 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 SC031638 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 SC031638 core:WithinOneYear 2023-11-30 SC031638 core:WithinOneYear 2022-11-30 SC031638 core:ShareCapital 2023-11-30 SC031638 core:ShareCapital 2022-11-30 SC031638 core:RevaluationReserve 2023-11-30 SC031638 core:RevaluationReserve 2022-11-30 SC031638 core:CapitalRedemptionReserve 2023-11-30 SC031638 core:CapitalRedemptionReserve 2022-11-30 SC031638 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC031638 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC031638 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 SC031638 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-11-30 SC031638 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-11-30 SC031638 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 SC031638 core:Non-currentFinancialInstruments 2023-11-30 SC031638 core:Non-currentFinancialInstruments 2022-11-30 SC031638 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 SC031638 bus:SmallEntities 2022-12-01 2023-11-30 SC031638 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC031638 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC031638 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC031638 bus:FullAccounts 2022-12-01 2023-11-30 SC031638 core:AllAssociates 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: SC031638
Automation and General Securities Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Automation and General Securities Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
1,785,872
1,825,541
Investments
5
264,547
268,888
------------
------------
2,050,419
2,094,429
Current assets
Debtors
6
118,312
Cash at bank and in hand
16,111
138,266
---------
---------
134,423
138,266
Creditors: amounts falling due within one year
7
( 226,820)
( 231,502)
---------
---------
Net current liabilities
( 92,397)
( 93,236)
------------
------------
Total assets less current liabilities
1,958,022
2,001,193
Provisions
( 101,535)
( 103,099)
------------
------------
Net assets
1,856,487
1,898,094
------------
------------
Capital and reserves
Called up share capital
6,000
6,000
Revaluation reserve
1,235,997
1,235,997
Capital redemption reserve
4,000
4,000
Profit and loss account
610,490
652,097
------------
------------
Shareholders funds
1,856,487
1,898,094
------------
------------
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 comprehensive income has not been delivered.
For the year ending 30 November 2023 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 .
Automation and General Securities Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr J J Marshall
Director
Company registration number: SC031638
Automation and General Securities Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 61 Dublin Street, Edinburgh, EH3 6NL.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property
-
2% straight line
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
4. Tangible assets
Freehold property
£
Cost
At 1 December 2022 and 30 November 2023
1,983,461
------------
Depreciation
At 1 December 2022
157,920
Charge for the year
39,669
------------
At 30 November 2023
197,589
------------
Carrying amount
At 30 November 2023
1,785,872
------------
At 30 November 2022
1,825,541
------------
Investment property included in freehold property was valued by the directors, on 30 November 2023. The historic cost of the investment property is £331,912 (2022 - £331,912)
5. Investments
Other investments other than loans
£
Cost
At 1 December 2022
268,888
Additions
1,234
Revaluations
( 5,575)
---------
At 30 November 2023
264,547
---------
Impairment
At 1 December 2022 and 30 November 2023
---------
Carrying amount
At 30 November 2023
264,547
---------
At 30 November 2022
268,888
---------
6. Debtors
2023
2022
£
£
Other debtors
118,312
---------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
437
1,648
Other creditors
226,383
229,854
---------
---------
226,820
231,502
---------
---------
8. Related party transactions
During the year the director paid rent totaling £6,000 (2022 - £6,000) to the company.