Structural Design Associates Ltd - Limited company accounts 20.1

REGISTERED NUMBER: 04139435 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 December 2021

for

Structural Design Associates Ltd

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

P A Chatfield

A C Tebbutt

T B Olsen

K Kloch

P V M Davelid

C T Boesen

M J Carr

REGISTERED OFFICE:

The Cornerstone

Market Place

Kegworth

Derbyshire

DE74 2EE

REGISTERED NUMBER:

04139435 (England and Wales)

AUDITORS:

Krogh & Partners Limited, (Statutory Auditor)

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of engineering works.

REVIEW OF BUSINESS

The results for the year and the financial position at the year end, were considered acceptable by the directors.

DIVIDENDS

The Directors do not recommend the payment of a dividend.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

P A Chatfield

A C Tebbutt

T B Olsen

K Kloch

P V M Davelid

C T Boesen

M J Carr

POST BALANCE SHEET EVENTS

No post balance sheet events have occured since 31 December 2021 which require reporting or disclosing in the accounts.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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 of 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 judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

Krogh & Partners Limited, (Statutory Auditor), Chartered Accountants & Registered Auditors were appointed as auditors and have signified their willingness to continue in office. A resolution to re-appoint them will be proposed at the Annual General Meeting.

ON BEHALF OF THE BOARD:

T B Olsen - Director

28 July 2022

Opinion

We have audited the financial statements of Structural Design Associates Ltd (the 'company') for the year ended 31 December 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge of the business;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, and anti-bribery;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

we reviewed the revenue recognition policy and considered whether this was being applied correctly for a sample of

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims;

-

reviewing correspondence with HMRC and relevant regulators

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John Lindegaard (Senior Statutory Auditor)

for and on behalf of Krogh & Partners Limited, (Statutory Auditor)

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

28 July 2022

TURNOVER

1,106,689

482,592

Cost of sales

563,195

330,765

GROSS PROFIT

543,494

151,827

Administrative expenses

362,167

171,929

OPERATING PROFIT/(LOSS)

4

181,327

(20,102

)

Interest receivable and similar income

20

504

PROFIT/(LOSS) BEFORE TAXATION

181,347

(19,598

)

Tax on profit/(loss)

5

5,156

(3,843

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

176,191

(15,755

)

PROFIT/(LOSS) FOR THE YEAR

176,191

(15,755

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

176,191

(15,755

)

FIXED ASSETS

Tangible assets

6

3,652

8,416

CURRENT ASSETS

Debtors

7

372,170

123,936

Cash at bank

107,323

82,703

479,493

206,639

CREDITORS

Amounts falling due within one year

8

169,275

77,376

NET CURRENT ASSETS

310,218

129,263

TOTAL ASSETS LESS CURRENT LIABILITIES

313,870

137,679

PROVISIONS FOR LIABILITIES

988

988

NET ASSETS

312,882

136,691

CAPITAL AND RESERVES

Called up share capital

9

3

3

Retained earnings

10

312,879

136,688

SHAREHOLDERS' FUNDS

312,882

136,691

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2022 and were signed on its behalf by:

T B Olsen - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2020

3

152,443

152,446

Changes in equity

Total comprehensive income

-

(15,755

)

(15,755

)

Balance at 31 December 2020

3

136,688

136,691

Changes in equity

Total comprehensive income

-

176,191

176,191

Balance at 31 December 2021

3

312,879

312,882

1.	STATUTORY INFORMATION

Structural Design Associates Ltd is a private company, limited by shares , registered in England and Wales. 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 the amounts charged to customers for goods and services supplied and is recognised when the goods are delivered or as services are supplied, net of value added tax, except in respect of long term contracts where turnover represents the sale value of work done in the period.

Contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract, and credit taken for profit earned to date when the outcome of the contract can be assessed with reasonable certainty. The amount by which turnover exceeds payments on account is classified as "work in progress" and included in debtors; to the extent that payments on account exceed relevant turnover and contract balances, the excess is included as a creditor.

Provision is made for losses which are foreseen.

Interest and similar income and charges

Interest and similar income and charges are recognised in the profit and loss account over the term of such

instruments at a constant rate on the carrying amount.

Project expenses

Project expenses include expenses directly attributable to projects excluding salaries and including travel

expenses, external expenses as well as other expenses.

External expenses

External expenses include administrative expenses, office expenses, marketing expenses as well as other

expenses.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation on fixed assets is provided at rates estimated to write off cost amounts, less estimated residual

value, of each asset over its expected useful life as follows:

Computer equipment 33%

Taxation

Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an

obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallised based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be

available for offset.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors

are carried at amortized cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 9 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2020 - operating loss) is stated after charging:

2021

2020

£

£

Depreciation - owned assets

4,764

5,353

5.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2021

2020

£

£

Current tax:

UK corporation tax

35,361

(3,843

)

Prior year adjustments

(30,205

)

-

Tax on profit/(loss)

5,156

(3,843

)

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

22,488

DEPRECIATION

At 1 January 2021

14,072

Charge for year

4,764

At 31 December 2021

18,836

NET BOOK VALUE

At 31 December 2021

3,652

At 31 December 2020

8,416

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

105,194

27,784

Work in progress

82,169

13,222

Amounts owed by group undertakings

151,047

62,129

Prepayments

33,760

20,801

372,170

123,936

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

22,225

22,083

Amounts owed to group undertakings

12,460

600

Tax

43,145

15,626

Social security and other taxes

19,848

11,092

VAT

22,248

18,787

Other creditors

14,366

-

Accruals and deferred income

34,983

9,188

169,275

77,376

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

3

Ordinary

1

3

3

10.

RESERVES

Retained

earnings

£

At 1 January 2021

136,688

Profit for the year

176,191

At 31 December 2021

312,879

11.	CONTINGENT LIABILITIES

The company have entered into normal contractual agreements within the nature of the business. The company can be liable in this respect.

The management keeps all such involvements under constant review and makes provision accordingly.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is NIRAS Gruppen A/S (incorporated in Denmark).

NIRAS Gruppen A/S (incorporated in Denmark) is the largest and smallest group to consolidate these financial statements and copies can be obtained from:

NIRAS Gruppen A/S

Sortemosevej 19

DK-3450 Alleroed

Denmark

or

www.cvr.dk

The ultimate parent undertaking is the NIRAS-ALECTIA Fonden, a foundation registered in Denmark.