IRIS Accounts Production v25.1.0.734 SC327471 director 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3274712023-07-31SC3274712024-07-31SC3274712023-08-012024-07-31SC3274712022-07-31SC3274712022-08-012023-07-31SC3274712023-07-31SC327471ns15:Scotland2023-08-012024-07-31SC327471ns14:PoundSterling2023-08-012024-07-31SC327471ns10:Director12023-08-012024-07-31SC327471ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC327471ns10:SmallEntities2023-08-012024-07-31SC327471ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31SC327471ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC327471ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC327471ns10:FullAccounts2023-08-012024-07-31SC327471ns10:CompanySecretary12023-08-012024-07-31SC327471ns10:RegisteredOffice2023-08-012024-07-31SC327471ns5:CurrentFinancialInstruments2024-07-31SC327471ns5:CurrentFinancialInstruments2023-07-31SC327471ns5:Non-currentFinancialInstruments2024-07-31SC327471ns5:Non-currentFinancialInstruments2023-07-31SC327471ns5:ShareCapital2024-07-31SC327471ns5:ShareCapital2023-07-31SC327471ns5:RetainedEarningsAccumulatedLosses2024-07-31SC327471ns5:RetainedEarningsAccumulatedLosses2023-07-31SC327471ns5:PlantMachinery2023-08-012024-07-31SC327471ns5:MotorVehicles2023-08-012024-07-31SC327471ns5:ComputerEquipment2023-08-012024-07-31SC327471ns5:PlantMachinery2023-07-31SC327471ns5:MotorVehicles2023-07-31SC327471ns5:ComputerEquipment2023-07-31SC327471ns5:PlantMachinery2024-07-31SC327471ns5:MotorVehicles2024-07-31SC327471ns5:ComputerEquipment2024-07-31SC327471ns5:PlantMachinery2023-07-31SC327471ns5:MotorVehicles2023-07-31SC327471ns5:ComputerEquipment2023-07-31SC327471ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC327471ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC327471ns5:AcceleratedTaxDepreciationDeferredTax2024-07-31SC327471ns5:AcceleratedTaxDepreciationDeferredTax2023-07-31SC327471ns5:DeferredTaxation2023-07-31SC327471ns5:DeferredTaxation2024-07-31
REGISTERED NUMBER: SC327471 (Scotland)











EASTFORD EXCAVATIONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


EASTFORD EXCAVATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mr A M Carruthers





SECRETARY: Mrs G J Carruthers





REGISTERED OFFICE: Eastford
Stobwood
Forth
by LANARK
ML11 8ET





REGISTERED NUMBER: SC327471 (Scotland)





ACCOUNTANTS: Azets
Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 282,105 290,653

CURRENT ASSETS
Debtors 6 196,136 254,274
Cash at bank and in hand 440,154 1,351,585
636,290 1,605,859
CREDITORS
Amounts falling due within one year 7 113,495 242,928
NET CURRENT ASSETS 522,795 1,362,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

804,900

1,653,584

CREDITORS
Amounts falling due after more than one
year

8

-

(7,163

)

PROVISIONS FOR LIABILITIES 9 (69,527 ) (71,136 )
NET ASSETS 735,373 1,575,285

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 735,273 1,575,185
SHAREHOLDERS' FUNDS 735,373 1,575,285

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

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

The director acknowledges his 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.

EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2025 and were signed by:





Mr A M Carruthers - Director


EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Eastford Excavations Limited is a private company, limited by shares, registered in Scotland. The Company’s registered number is SC327471 and registered office address is Eastford, Stobwood, Forth, Lanark, ML11 8ET.

The nature of the Company's operations and its principal activities are civil engineering.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements & key sources of estimation uncertainty
In preparing these financial statements, the director has made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Leases
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 (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) 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 profit and loss account 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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

EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

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 profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 132,190 279,738 5,716 417,644
Additions 22,017 69,875 - 91,892
Disposals - (53,898 ) - (53,898 )
At 31 July 2024 154,207 295,715 5,716 455,638
DEPRECIATION
At 1 August 2023 38,007 85,308 3,676 126,991
Charge for year 26,628 48,869 675 76,172
Eliminated on disposal - (29,630 ) - (29,630 )
At 31 July 2024 64,635 104,547 4,351 173,533
NET BOOK VALUE
At 31 July 2024 89,572 191,168 1,365 282,105
At 31 July 2023 94,183 194,430 2,040 290,653

The net book value of tangible fixed assets includes £ 20,177 (2023 - £ 26,903 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 183,977 236,176
Other debtors 250 -
VAT 11,909 18,098
196,136 254,274

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,163 10,068
Trade creditors 28,945 62,402
Corporation tax 58,725 80,022
Social security and other taxes 15,108 78,019
Director's loan account 778 778
Accruals and deferred income 2,776 11,639
113,495 242,928

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 7,163

EASTFORD EXCAVATIONS LIMITED (REGISTERED NUMBER: SC327471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 69,527 71,136

Deferred
tax
£   
Balance at 1 August 2023 71,136
Originating and reversal
of timing differences (1,609 )
Balance at 31 July 2024 69,527

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company benefited from an interest free loan from the director during the year amounting to £778 (2023: £778).

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.