Company registration number SC172228 (Scotland)
Algoa Engineering Services Limited
Unaudited financial statements
for the year ended 30 September 2024
Pages for filing with registrar
Algoa Engineering Services Limited
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Algoa Engineering Services Limited
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Algoa Engineering Services Limited for the year ended 30 September 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the Director of Algoa Engineering Services Limited, in accordance with the terms of our engagement letter dated 25 March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Algoa Engineering Services Limited and state those matters that we have agreed to state to the Director of Algoa Engineering Services Limited, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Algoa Engineering Services Limited and its Director, for our work or for this report.
It is your duty to ensure that Algoa Engineering Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Algoa Engineering Services Limited. You consider that Algoa Engineering Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Algoa Engineering Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
Rosewood
Raemoir Road
Banchory
AB31 4ET
14 April 2025
Algoa Engineering Services Limited
Statement of financial position
at 30 September 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
275
510
Current assets
Debtors
8,020
20,435
Cash at bank and in hand
102,421
70,404
110,441
90,839
Creditors: amounts falling due within one year
(28,276)
(38,002)
Net assets
82,165
52,837
Total assets less current liabilities
82,440
53,347
Capital and reserves
Called up share capital
5
5
Profit and loss reserves
82,435
53,342
Total equity
82,440
53,347
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Algoa Engineering Services Limited
Statement of financial position (continued)
at 30 September 2024
3
The financial statements were approved and signed by the director and authorised for issue on 13 April 2025
Michael J. Potts
Director
Company Registration No. SC172228
Algoa Engineering Services Limited
Notes to the financial statements
for the year ended 30 September 2024
4
1
Accounting policies
Company information
Algoa Engineering Services Limited is a private company limited by shares incorporated in Scotland. The registered office is 30 Albert Terrace, Aberdeen, AB10 1XY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
3 years straight line
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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Algoa Engineering Services Limited
Notes to the financial statements (continued)
for the year ended 30 September 2024
5
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 1
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Total
£
Cost
At 1 October 2023 and 30 September 2024
708
Depreciation and impairment
At 1 October 2023
198
Depreciation charged in the year
235
At 30 September 2024
433
Carrying amount
At 30 September 2024
275
At 30 September 2023
510
4
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Michael J. Potts
6,835
5,312
(8,241)
3,906
6,835
5,312
(8,241)
3,906