Andrew Shepherd Construction Limited Filleted accounts for Companies House (small and micro)

ANDREW SHEPHERD CONSTRUCTION LIMITED - Company Information

41 false false false false false false false false false true false false false false false false No description of principal activity 2020-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 71,000 71,000 71,000 xbrli:pure xbrli:shares iso4217:GBP SC099911 2020-04-01 2021-03-31 SC099911 2021-03-31 SC099911 2020-03-31 SC099911 2019-04-01 2020-03-31 SC099911 2020-03-31 SC099911 core:MotorVehicles 2020-04-01 2021-03-31 SC099911 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 SC099911 bus:Director7 2020-04-01 2021-03-31 SC099911 core:WithinOneYear 2021-03-31 SC099911 core:WithinOneYear 2020-03-31 SC099911 core:LandBuildings 2020-03-31 SC099911 core:PlantMachinery 2020-03-31 SC099911 core:MotorVehicles 2020-03-31 SC099911 core:LandBuildings 2021-03-31 SC099911 core:PlantMachinery 2021-03-31 SC099911 core:MotorVehicles 2021-03-31 SC099911 core:AfterOneYear 2021-03-31 SC099911 core:AfterOneYear 2020-03-31 SC099911 core:UKTax 2020-04-01 2021-03-31 SC099911 core:UKTax 2019-04-01 2020-03-31 SC099911 core:LandBuildings 2020-04-01 2021-03-31 SC099911 core:PlantMachinery 2020-04-01 2021-03-31 SC099911 bus:OrdinaryShareClass1 2019-04-01 2020-03-31 SC099911 core:ShareCapital 2021-03-31 SC099911 core:ShareCapital 2020-03-31 SC099911 core:RetainedEarningsAccumulatedLosses 2021-03-31 SC099911 core:RetainedEarningsAccumulatedLosses 2020-03-31 SC099911 core:BetweenOneFiveYears 2021-03-31 SC099911 core:BetweenOneFiveYears 2020-03-31 SC099911 core:MoreThanFiveYears 2021-03-31 SC099911 core:MoreThanFiveYears 2020-03-31 SC099911 core:CostValuation core:Non-currentFinancialInstruments 2021-03-31 SC099911 core:Non-currentFinancialInstruments 2021-03-31 SC099911 core:Non-currentFinancialInstruments 2020-03-31 SC099911 core:AcceleratedTaxDepreciationDeferredTax 2021-03-31 SC099911 core:AcceleratedTaxDepreciationDeferredTax 2020-03-31 SC099911 core:LandBuildings 2020-03-31 SC099911 core:PlantMachinery 2020-03-31 SC099911 core:MotorVehicles 2020-03-31 SC099911 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2021-03-31 SC099911 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2021-03-31 SC099911 core:LeasedAssetsHeldAsLessee 2021-03-31 SC099911 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2020-03-31 SC099911 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2020-03-31 SC099911 core:LeasedAssetsHeldAsLessee 2020-03-31 SC099911 bus:SmallEntities 2020-04-01 2021-03-31 SC099911 bus:Audited 2020-04-01 2021-03-31 SC099911 bus:FullAccounts 2020-04-01 2021-03-31 SC099911 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 SC099911 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 SC099911 bus:OrdinaryShareClass1 2021-03-31 SC099911 bus:OrdinaryShareClass1 2020-03-31 SC099911 core:LandBuildings core:LongLeaseholdAssets 2020-04-01 2021-03-31

COMPANY REGISTRATION NUMBER: SC099911

Andrew Shepherd Construction Limited

Filleted Financial Statements

31 March 2021

Andrew Shepherd Construction Limited

Directors' Responsibilities Statement

Year ended 31 March 2021

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Andrew Shepherd Construction Limited

Statement of Financial Position

31 March 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	7	338,266	423,436
Investments	8	71,000	71,000
		---------	---------
		409,266	494,436

Current assets

Stocks		126,554	59,260
Debtors	9	2,021,274	1,691,142
Cash at bank and in hand		28,111	89,320
		------------	------------
		2,175,939	1,839,722

Creditors: amounts falling due within one year	10	1,904,712	1,618,175
		------------	------------
Net current assets		271,227	221,547
		---------	---------
Total assets less current liabilities		680,493	715,983

Creditors: amounts falling due after more than one year	11	16,104	52,231

Provisions for liabilities

Deferred tax	36,700	45,585
	---------	---------
Net assets	627,689	618,167
	---------	---------

Capital and reserves

Called up share capital	13	90,000	90,000
Profit and loss account		537,689	528,167
		---------	---------
Shareholder funds		627,689	618,167
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

Andrew Shepherd Construction Limited

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 24 August 2021 , and are signed on behalf of the board by:

Paul J. Harding

Director

Company registration number: SC099911

Andrew Shepherd Construction Limited

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Restenneth House, Old Brechin Road, Forfar, Angus, DD8 3DX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The company's forecast and projections, taking account of reasonable changes in trading performance, indicate that the company plans to operate within cash generated. The Board of Directors confirm that, after making appropriate enquiries, it has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing these Financial Statements.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised.

Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue

The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the profit and loss account represents the certified value of work done, exclusive of Value Added Tax.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tenants improvements	-	12.5% straight line
Plant & equipment	-	12.5% - 25% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Hire purchase contracts

Assets held under hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Revenue grants are recognised in the Statement of Income and Retained Earnings in the period to which they relate.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Basic financial instruments

A financial asset held as an equity instrument is recognised initially at the transaction price (including transaction costs). At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date. Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 41 (2020: 45 ).

5. Tax on profit

Major components of tax expense

	2021	2020
	£	£

Current tax:

UK current tax expense	23,142	24,687

Deferred tax:

Origination and reversal of timing differences	( 8,885)	16,657
	--------	--------
Tax on profit	14,257	41,344
	--------	--------

6. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2021	2020
	£	£
Equity dividends on ordinary shares	20,000	160,000
	--------	---------

7. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2020	291,403	167,820	396,693	855,916
Disposals	–	–	( 20,560)	( 20,560)
	---------	---------	---------	---------
At 31 March 2021	291,403	167,820	376,133	835,356
	---------	---------	---------	---------
Depreciation
At 1 April 2020	–	123,621	308,859	432,480
Charge for the year	36,425	8,227	35,807	80,459
Disposals	–	–	( 15,849)	( 15,849)
	---------	---------	---------	---------
At 31 March 2021	36,425	131,848	328,817	497,090
	---------	---------	---------	---------
Carrying amount
At 31 March 2021	254,978	35,972	47,316	338,266
	---------	---------	---------	---------
At 31 March 2020	291,403	44,199	87,834	423,436
	---------	---------	---------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 March 2021	34,714	52,048	86,762
	--------	--------	--------
At 31 March 2020	41,432	81,417	122,849
	--------	--------	---------

8. Investments

	Equity investments
	£
Cost
At 1 April 2020 and 31 March 2021	71,000
	--------
Impairment
At 1 April 2020 and 31 March 2021	–
	--------

Carrying amount
At 31 March 2021	71,000
	--------
At 31 March 2020	71,000
	--------

9. Debtors

	2021	2020
	£	£
Trade debtors	987,941	568,443
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,026,960	1,103,480
Other debtors	6,373	19,219
	------------	------------
	2,021,274	1,691,142
	------------	------------

10. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	1,084,383	1,155,574
Accruals and deferred income	63,286	84,122
Corporation tax	21,159	24,687
Social security and other taxes	238,298	128,766
Obligations under finance leases and hire purchase contracts	29,960	62,403
Other creditors	467,626	162,623
	------------	------------
	1,904,712	1,618,175
	------------	------------

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

	2021	2020
	£	£
Obligations under finance leases and hire purchase contracts	16,104	52,231
	--------	--------

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2021	2020
	£	£
Included in provisions for liabilities	36,700	45,585
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2021	2020
	£	£
Accelerated capital allowances	36,700	45,585
	--------	--------

13. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	90,000	90,000	90,000	90,000
	--------	--------	--------	--------

14. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2021	2020
	£	£
Not later than 1 year	47,906	44,570
Later than 1 year and not later than 5 years	173,168	164,951
Later than 5 years	103,333	143,333
	---------	---------
	324,407	352,854
	---------	---------

15. Summary audit opinion

The auditor's report for the year dated 24 August 2021 was unqualified.

The senior statutory auditor was Karen Henderson MCIBS, BA(Hons), CA , for and on behalf of FourM Limited .

16. Related party transactions

The company and its holding company have a group treasury arrangement with the group's bankers. All cash within the group is held in a bank deposit account in the name of Andrew Shepherd (Holdings) Limited. At the year-end, the company was due to receive a balance of £1,017,360 (2020 - £1,103,480) from Andrew Shepherd (Holdings) Limited in relation to these arrangements.

17. Controlling party

The company's ultimate parent company is Kinburn (208) Limited, a company registered in Scotland. The ultimate parent's accounts are available from the registrar of Companies, Companies House, 4th Floor, Edinburgh Quay, 139 Fountainbridge, Edinburgh, EH3 9FF.