Company No: SC428447 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	403,408		303,845
Investments	4	658,745		658,745
		1,062,153		962,590
Current assets
Stocks		62,000		62,000
Debtors	5	549,244		350,354
Cash at bank and in hand		222,071		155,723
		833,315		568,077
Creditors: amounts falling due within one year	6	( 346,953)		( 291,959)
Net current assets		486,362		276,118
Total assets less current liabilities		1,548,515		1,238,708
Creditors: amounts falling due after more than one year	7	( 90,874)		( 72,313)
Provision for liabilities	8	( 95,911)		( 69,706)
Net assets		1,361,730		1,096,689
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		1,361,630		1,096,589
Total shareholders' funds		1,361,730		1,096,689

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of C A Engineering Scotland Limited (registered number: SC428447) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

Cameron Charles Steel Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

C A Engineering Scotland Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Tolly Beau, Waterside, Strathdon, AB36 8XA, United Kingdom. The principal place of business is Unit 4 & 5 Concraig, Mains of Concraig, Kingswells, AB15 8RL

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover represents amounts receivable for engineering services net of VAT and trade discounts.

Turnover is recognised on an accruals basis as the service is provided.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance
Other property, plant and equipment	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible 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 extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		12

3. Tangible assets

	Leasehold improve- ments		Vehicles		Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 August 2023	21,485		351,456		4,441		136,840		514,222
Additions	0		160,260		1,120		21,473		182,853
At 31 July 2024	21,485		511,716		5,561		158,313		697,075
Accumulated depreciation
At 01 August 2023	4,847		144,226		2,628		58,676		210,377
Charge for the financial year	2,148		71,753		586		8,803		83,290
At 31 July 2024	6,995		215,979		3,214		67,479		293,667
Net book value
At 31 July 2024	14,490		295,737		2,347		90,834		403,408
At 31 July 2023	16,638		207,230		1,813		78,164		303,845

4. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 August 2023	658,745
At 31 July 2024	658,745
Carrying value at 31 July 2024	658,745
Carrying value at 31 July 2023	658,745

The investment represents 100% of the share capital of Hays Hydraulic & Mechanical Services Limited.

5. Debtors

	2024		2023
	£		£
Trade debtors	374,226		239,114
Other debtors	175,018		111,240
	549,244		350,354

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	17,075		94,897
Trade creditors	83,693		98,483
Taxation and social security	102,278		40,245
Obligations under finance leases and hire purchase contracts	56,858		27,589
Other creditors	87,049		30,745
	346,953		291,959

Included in other creditors is an amount of £56,858 (2023 - £27,589) which relates to obligations under hire purchase contracts and finance leases which are secured over the asset to which they relate.

Bank loans contain floating charges which cover all the property and undertakings of the company. The company also has a Enterprise Finance Guarantee and a group guarantee between C A Engineering Scotland Limited and Hays Hydraulics & Mechanical Services Limited.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	10,833		27,909
Obligations under finance leases and hire purchase contracts	80,041		44,404
	90,874		72,313

Amounts included in other creditors relate to obligations under hire purchase contracts and finance leases which are secured over the asset to which they relate.

Bank loans contain floating charges which cover all the property and undertakings of the company. The company also has an Enterprise Finance Guarantee and a group guarantee between C A Engineering Scotland Limited and Hays Hydraulics & Mechanical Services Limited.

8. Provision for liabilities

	2024		2023
	£		£
Deferred tax	95,911		69,706

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Due to C Steel	(80)		(80)
Due from A Milne	600		540

The above are treated as interest free loans, with no fixed repayment terms.

Other related party transactions

The company has taken advantage of the exemptions included in FRS102 33.1A not to disclose transactions with wholly owned group companies.

11. Events after the Balance Sheet date

After the year end, the company declared dividends of £40,000 to the shareholders.