Registration number:
Civic Engineers (Caledonia) Limited
for the Year Ended 28 February 2021
Civic Engineers (Caledonia) Limited
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Civic Engineers (Caledonia) Limited
Company Information
Directors |
Mr J Broster Ms I Jackson Mr S O'Malley |
Registered office |
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Accountants |
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Civic Engineers (Caledonia) Limited
Directors' Report for the Year Ended 28 February 2021
The directors present their report and the financial statements for the year ended 28 February 2021.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is consulting engineers, providing a range of innovative engineering solutions working on structural designs and urban infrastructure projects.
Review of business
Like many, we have used the last 12 months to reflect on our business, taking a deep dive to examine our values, culture, and direction. This clear-headed assessment, involving many rounds of debate, challenge and provocation across our entire group, culminated in The Little Book of Civic Engineers. This exercise has helped us refine and sharpen the things that we want to do and how we want to practice.
Our culture is constantly evolving, and working within our boundary set values, we have initiated a system of structured propagation, nurture and dissemination to feed this development cycle. We have called this structure our Labs, spread across five overarching themes Knowledge; Reputation; People; Practice; and Finance; they are places where we can take risks in a controlled environment. Everyone is allocated to a Lab and can learn, participate and forge the future of the Practice.
The pandemic has also had a hugely disruptive impact on work patterns and triggered the mass experiment of working from home. This fundamental lifestyle change has brought many benefits, particularly how and where people spend their precious time. This realisation has caused society and the built environment industry to pivot further towards the principles of active travel infrastructure, clustering facilities and homes in close proximity, reducing the need for travel. These changes create the opportunity to hardwire green and blue infrastructure into our urban landscapes, improve amenity and biodiversity, and strengthen climate change resilience. We have also observed a much sharper appetite for retrofit first when dealing with repurposing buildings where uses have changed. These principles resonate with the founding values of our company. They are in the DNA of our business. We have been honing the techniques, arguments and methods to deliver this agenda, placing us at the forefront of this movement. Critically we have seen this movement manifest in our order book and pipeline.
Our strategic investments in talent and infrastructure, combined with maturing systems, aligning with a reorientating market, provide a robust platform for further progression over the next year. Civic Engineers Caledonia is now 4 years old and has seen strong growth over the last 12 months something which we expect to see continue in the coming year. With the relocation of our Glasgow studio to a custom fitout space we are confident that this will support the team to grow and thrive to allow us to sustain our growth across Scotland.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Civic Engineers (Caledonia) Limited
Directors' Report for the Year Ended 28 February 2021
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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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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.
Approved by the
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Director
Civic Engineers (Caledonia) Limited
(Registration number: 10843357)
Balance Sheet as at 28 February 2021
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2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Civic Engineers (Caledonia) Limited
(Registration number: 10843357)
Balance Sheet as at 28 February 2021
Approved and authorised by the
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Director
Civic Engineers (Caledonia) Limited
Notes to the Financial Statements for the Year Ended 28 February 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
The company's registration number is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents the fair value of services provided under contracts with customers to the extent that there is right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to the date based on the appropriate proportion of the total expected selling price at completion.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered .
Government grants
Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability
Civic Engineers (Caledonia) Limited
Notes to the Financial Statements for the Year Ended 28 February 2021
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
3 years straight line |
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3 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Civic Engineers (Caledonia) Limited
Notes to the Financial Statements for the Year Ended 28 February 2021
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Long term employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Civic Engineers (Caledonia) Limited
Notes to the Financial Statements for the Year Ended 28 February 2021
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 March 2020 |
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Additions |
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At 28 February 2021 |
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Depreciation |
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At 1 March 2020 |
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Charge for the year |
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At 28 February 2021 |
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Carrying amount |
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At 28 February 2021 |
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At 29 February 2020 |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Civic Engineers (Caledonia) Limited
Notes to the Financial Statements for the Year Ended 28 February 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts disclosed in the balance sheet
Included in the balance sheet are financial commitments of £111,494 (2020 - £111,494). Svenska Handelsbank Ab holds a fixed and floating charge over the assets of the company in respect of bank overdrafts and loans within the parent company.