Precision Utility Mapping Ltd - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: SC504779 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Precision Utility Mapping Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Lannon

Miss L McSherry

SECRETARY:

REGISTERED OFFICE:

3C Langlands Square

East Kilbride

G75 0YY

REGISTERED NUMBER:

SC504779 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Intangible assets

4

10,222

20,443

Tangible assets

5

454,677

434,994

464,899

455,437

CURRENT ASSETS

Stocks

19,250

-

Debtors

6

284,548

318,640

Cash at bank

159,443

64,295

463,241

382,935

CREDITORS

Amounts falling due within one year

7

311,257

342,795

NET CURRENT ASSETS

151,984

40,140

TOTAL ASSETS LESS CURRENT LIABILITIES

616,883

495,577

CREDITORS

Amounts falling due after more than one year

8

(355,177

)

(243,715

)

PROVISIONS FOR LIABILITIES

9

(74,339

)

(64,787

)

NET ASSETS

187,367

187,075

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

187,267

186,975

SHAREHOLDERS' FUNDS

187,367

187,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 23 November 2023 and were signed on its behalf by:

S Lannon - Director

1.	STATUTORY INFORMATION

Precision Utility Mapping Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2022 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

30,665

AMORTISATION

At 1 April 2022

10,222

Charge for year

10,221

At 31 March 2023

20,443

NET BOOK VALUE

At 31 March 2023

10,222

At 31 March 2022

20,443

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

486,593

10,178

185,923

16,791

699,485

Additions

166,099

1,819

4,977

5,087

177,982

Disposals

(2,349

)

-

-

-

(2,349

)

At 31 March 2023

650,343

11,997

190,900

21,878

875,118

DEPRECIATION

At 1 April 2022

186,653

1,780

68,539

7,519

264,491

Charge for year

123,304

1,533

30,590

2,872

158,299

Eliminated on disposal

(2,349

)

-

-

-

(2,349

)

At 31 March 2023

307,608

3,313

99,129

10,391

420,441

NET BOOK VALUE

At 31 March 2023

342,735

8,684

91,771

11,487

454,677

At 31 March 2022

299,940

8,398

117,384

9,272

434,994

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

242,289

305,532

Other debtors

42,259

13,108

284,548

318,640

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

48,675

22,218

Hire purchase contracts

72,049

85,459

Trade creditors

13,683

26,138

Taxation and social security

86,471

153,135

Other creditors

90,379

55,845

311,257

342,795

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

224,670

31,667

Hire purchase contracts

130,507

212,048

355,177

243,715

9.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

74,339

64,787

Deferred

tax

£

Balance at 1 April 2022

64,787

Provided during year

9,552

Balance at 31 March 2023

74,339