Company registration number SC460009 (Scotland)
Engineering & Design Solutions Limited
Unaudited financial statements
for the year ended 31 August 2022
Pages for filing with registrar
Engineering & Design Solutions Limited
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Engineering & Design Solutions Limited
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Engineering & Design Solutions Limited for the year ended 31 August 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the director of Engineering & Design Solutions Limited, in accordance with the terms of our engagement letter dated 15 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Engineering & Design Solutions Limited and state those matters that we have agreed to state to the director of Engineering & Design Solutions Limited, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Engineering & Design Solutions Limited and its director, for our work or for this report.
It is your duty to ensure that Engineering & Design Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Engineering & Design Solutions Limited. You consider that Engineering & Design Solutions Limited 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 Engineering & Design Solutions Limited. 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.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
29 May 2023
Engineering & Design Solutions Limited
Balance sheet
as at 31 August 2022
2
2022
2021
Notes
£
£
£
£
Current assets
Debtors
29,076
30,165
Cash at bank and in hand
10,659
10,203
39,735
40,368
Creditors: amounts falling due within one year
(15,388)
(15,588)
Net current assets
24,347
24,780
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
24,247
24,680
Total equity
24,347
24,780
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 May 2023
Capt S C MacBride
Director
Company Registration No. SC460009
Engineering & Design Solutions Limited
Notes to the financial statements
for the year ended 31 August 2022
3
1
Accounting policies
Company information
Engineering & Design Solutions Limited is a private company limited by shares incorporated in Scotland. The registered office is Pegasus, Ardoe, Aberdeen, AB12 5XT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.