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REGISTERED NUMBER: SC430318 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Asphalt Design Limited

Asphalt Design Limited (Registered number: SC430318)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Asphalt Design Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Gavin Strang
Robert Naismith





REGISTERED OFFICE: 8 Carsphairn Road
Dalmellington
Ayr
KA6 7RE





REGISTERED NUMBER: SC430318 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Asphalt Design Limited (Registered number: SC430318)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,108 34,921

CURRENT ASSETS
Debtors 5 19,141 11,717
Cash at bank 24,534 42,043
43,675 53,760
CREDITORS
Amounts falling due within one year 6 27,941 38,335
NET CURRENT ASSETS 15,734 15,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,842

50,346

CREDITORS
Amounts falling due after more than one
year

7

(34,851

)

(25,064

)

PROVISIONS FOR LIABILITIES (8,191 ) (8,730 )
NET ASSETS 15,800 16,552

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 15,700 16,452
SHAREHOLDERS' FUNDS 15,800 16,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Asphalt Design Limited (Registered number: SC430318)

Balance Sheet - continued
31 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:




Gavin Strang - Director



Robert Naismith - Director


Asphalt Design Limited (Registered number: SC430318)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Asphalt Design 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The directors consider the current and future level of trading on an ongoing basis to assess the resources required to meet commitments as they fall due. Taking account of these factors the directors are confident that the company has sufficient resources now and going forward to allow the company to continue in operation. On the basis of all these factors, the accounts have been prepared on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Asphalt Design Limited (Registered number: SC430318)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Asphalt Design Limited (Registered number: SC430318)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 79,282 23,095 102,377
Additions 3,000 18,295 21,295
Disposals - (11,100 ) (11,100 )
At 31 August 2024 82,282 30,290 112,572
DEPRECIATION
At 1 September 2023 58,761 8,695 67,456
Charge for year 4,704 5,999 10,703
Eliminated on disposal - (8,695 ) (8,695 )
At 31 August 2024 63,465 5,999 69,464
NET BOOK VALUE
At 31 August 2024 18,817 24,291 43,108
At 31 August 2023 20,521 14,400 34,921

Asphalt Design Limited (Registered number: SC430318)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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
At 1 September 2023 11,995
Additions 18,295
At 31 August 2024 30,290
DEPRECIATION
Charge for year 5,999
At 31 August 2024 5,999
NET BOOK VALUE
At 31 August 2024 24,291
At 31 August 2023 11,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,530 9,023
Other debtors 6,611 2,694
19,141 11,717

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,171 7,800
Hire purchase contracts 5,141 2,484
Trade creditors 8,794 2,328
Taxation and social security 4,496 18,382
Other creditors 5,339 7,341
27,941 38,335

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 19,812 20,354
Hire purchase contracts 15,039 4,710
34,851 25,064

Asphalt Design Limited (Registered number: SC430318)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 23,983 28,154
Hire purchase contracts 20,180 7,194
44,163 35,348

The bank loan is secured. Interest is chargeable at a commercial rate of interest.

The hire purchase creditors are secured over the assets funded.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by both directors by virtue of their 100% shareholding in the company.