Registered number
08519734
Structural Asset Consulting Engineers Ltd
Unaudited Filleted Accounts
31 May 2024
Structural Asset Consulting Engineers Ltd
Registered number: 08519734
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,125 32,685
Investments 4 773,428 -
801,553 32,685
Current assets
Debtors 5 143,708 810,802
Cash at bank and in hand 766,543 378,861
910,251 1,189,663
Creditors: amounts falling due within one year 6 (414,500) (333,245)
Net current assets 495,751 856,418
Net assets 1,297,304 889,103
Capital and reserves
Called up share capital 40 40
Profit and loss account 1,297,264 889,063
Shareholders' funds 1,297,304 889,103
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L J Marshall
Director
Approved by the board on 18 July 2024
Structural Asset Consulting Engineers Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 15% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Equipment
£
Cost
At 1 June 2023 57,581
Additions 403
At 31 May 2024 57,984
Depreciation
At 1 June 2023 24,896
Charge for the year 4,963
At 31 May 2024 29,859
Net book value
At 31 May 2024 28,125
At 31 May 2023 32,685
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 773,428
At 31 May 2024 773,428
5 Debtors 2024 2023
£ £
Trade debtors 143,708 164,332
Wage control account - 833
Other debtors - 645,637
143,708 810,802
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 66,486 81,556
Accruals 3,056 2,888
VAT control account 70,488 69,412
PAYE control account 3,338 6,236
Pension control account 612 1,103
Taxation and social security costs 168,788 70,512
Directors Loan account 101,732 101,538
414,500 333,245
7 Other information
Structural Asset Consulting Engineers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
31 Weetworth Park
Castleford
West Yorkshire
WF10 4DP
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