George Andrew (Engineers) Limited - Accounts to registrar (filleted) - small 18.2

George Andrew (Engineers) Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC372570 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2020

for

George Andrew (Engineers) Limited

George Andrew (Engineers) Limited (Registered number: SC372570)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

George Andrew (Engineers) Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: N Andrew
I Andrew
N L Andrew





SECRETARY: N Andrew





REGISTERED OFFICE: 55-57 West High Street
INVERURIE
AB51 3QQ





REGISTERED NUMBER: SC372570 (Scotland)





ACCOUNTANTS: Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ

George Andrew (Engineers) Limited (Registered number: SC372570)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £   
FIXED ASSETS
Intangible assets 4 518,810 622,573
Tangible assets 5 477,858 441,908
996,668 1,064,481

CURRENT ASSETS
Stocks 9,763 8,113
Debtors 6 114,827 133,448
Cash at bank and in hand 174,054 137,911
298,644 279,472
CREDITORS
Amounts falling due within one
year

7

(837,045

)

(847,489

)
NET CURRENT LIABILITIES (538,401 ) (568,017 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,267

496,464

PROVISIONS FOR LIABILITIES 8 (21,976 ) (13,427 )
NET ASSETS 436,291 483,037

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 436,191 482,937
SHAREHOLDERS' FUNDS 436,291 483,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

George Andrew (Engineers) Limited (Registered number: SC372570)

Balance Sheet - continued
31 March 2020


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised
for issue on 16 September 2020 and were signed on its behalf by:





N Andrew - Director


George Andrew (Engineers) Limited (Registered number: SC372570)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

George Andrew (Engineers) 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.

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.

Turnover
Turnover represents amounts receivable for goods sold and services rendered
during the year, exclusive of value added tax.

Goodwill
Goodwill arising on the acquisition of the business trade is carried at
cost less accumulated amortisation. Amortisation is calculated on a
straight line basis over the useful economic life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial
recognition, intangible assets are measured at cost less any accumulated
amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after
making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised
in the Income Statement, 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.

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.

George Andrew (Engineers) Limited (Registered number: SC372570)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2019
and 31 March 2020 1,297,026
AMORTISATION
At 1 April 2019 674,453
Amortisation for year 103,763
At 31 March 2020 778,216
NET BOOK VALUE
At 31 March 2020 518,810
At 31 March 2019 622,573

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2019 452,419 126,341 28,985 1,653 609,398
Additions - 66,725 - - 66,725
At 31 March 2020 452,419 193,066 28,985 1,653 676,123
DEPRECIATION
At 1 April 2019 81,177 66,750 18,041 1,522 167,490
Charge for year 9,048 18,948 2,736 43 30,775
At 31 March 2020 90,225 85,698 20,777 1,565 198,265
NET BOOK VALUE
At 31 March 2020 362,194 107,368 8,208 88 477,858
At 31 March 2019 371,242 59,591 10,944 131 441,908

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors 106,293 123,600
Prepayments 8,534 9,848
114,827 133,448

George Andrew (Engineers) Limited (Registered number: SC372570)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Other loans 245,000 245,000
Trade creditors 10,275 14,863
Tax 22,349 39,749
PAYE 3,467 3,918
VAT 21,165 23,730
Net salary clearing account 2,162 2,432
Directors' loan accounts 480,924 510,924
Accrued expenses 51,703 6,873
837,045 847,489

8. PROVISIONS FOR LIABILITIES
31.3.20 31.3.19
£    £   
Deferred tax 21,976 13,427

Deferred
tax
£   
Balance at 1 April 2019 13,427
Provided during year 8,549
Balance at 31 March 2020 21,976

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £64,000 (2019 - £76,000) were paid to
the directors .

During the year N L Andrew (Director) increased the amount loaned to the
company by £85,000 leaving a balance of £260,000 (2019 £175,000). This
loan is unsecured, interest free and repayable on demand.

During the year I Andrew (Director) increased the amount loaned to the
company by £85,000 leaving a balance of £185,000 (2019 £100,000). This
loan is unsecured, interest free and repayable on demand.

There was no movement in the loan from R Andrew (Former Director) to the
company in the year leaving a balance of £245,000 (2019 £245,000). This
loan is unsecured, interest free and repayable on demand.

During the year N Andrew (Director) decreased the amount loaned to the
company by £200,000 leaving a balance of £35,924 (2019 £235,924). This
loan is unsecured, interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.

George Andrew (Engineers) Limited

Report of the Accountants to the Directors of
George Andrew (Engineers) Limited

The following reproduces the text of the report prepared for the directors in
respect of the company's annual unaudited financial statements. In accordance
with the Companies Act 2006, the company is only required to file a Balance
Sheet. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Directors are not required to be filed with the
Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

This report is made solely to the Board of Directors of the company, as a body,
in accordance with the terms of our engagement. Our work has been undertaken
solely to prepare for your approval the financial statements of the company and
state those matters that we have agreed to state to the Board of Directors of
the company, as a body, in this report in accordance with the requirements of
the Institute of Financial Accountants. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other than the company and
its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records
and to prepare statutory accounts that give a true and fair view of the assets,
liabilities and financial position of the company. You consider that the company
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 the company. 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.






Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ


16 September 2020