Doelcam Holding Ltd 31/03/2019 iXBRL

Doelcam Holding Ltd 31/03/2019 iXBRL

DOELCAM HOLDING LTD - Company Information

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Company registration number: SC530311
Doelcam Holding Ltd
Unaudited filleted financial statements
31 March 2019
Doelcam Holding Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Doelcam Holding Ltd
Directors and other information
Directors Alexander Macleod
Company number SC530311
Registered office 37 Henderson Drive
Inverness
IV1 1TR
Accountants Frame Kennedy
Metropolitan House
31-33 High Street
Inverness
IV1 1EH
Doelcam Holding Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Doelcam Holding Ltd
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Doelcam Holding Ltd for the year ended 31 March 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Doelcam Holding Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Doelcam Holding Ltd and state those matters that we have agreed to state to the board of directors of Doelcam Holding Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Doelcam Holding Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Doelcam Holding Ltd 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 profit of Doelcam Holding Ltd. You consider that Doelcam Holding Ltd 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 Doelcam Holding Ltd. 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.
Frame Kennedy
Chartered Accountants
Metropolitan House
31-33 High Street
Inverness
IV1 1EH
19 December 2019
Doelcam Holding Ltd
Statement of financial position
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Investments 4 500,000 500,000
_______ _______
500,000 500,000
Current assets
Debtors 5 79,987 29,987
_______ _______
79,987 29,987
Net current assets 79,987 29,987
_______ _______
Total assets less current liabilities 579,987 529,987
_______ _______
Net assets 579,987 529,987
_______ _______
Capital and reserves
Called up share capital 250,000 250,000
Profit and loss account 329,987 279,987
_______ _______
Shareholders funds 579,987 529,987
_______ _______
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 December 2019 , and are signed on behalf of the board by:
Alexander Macleod
Director
Company registration number: SC530311
Doelcam Holding Ltd
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 37 Henderson Drive, Inverness, IV1 1TR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
There were no material departures from this standard.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Fair values
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2018 and 31 March 2019 500,000 500,000
_______ _______
Impairment
At 1 April 2018 and 31 March 2019 - -
_______ _______
Carrying amount
At 31 March 2019 500,000 500,000
_______ _______
At 31 March 2018 500,000 500,000
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
Macleod Roofing Limited 37 Henderson Drive Inverness IV1 1TR Ordinary 100
5. Debtors
2019 2018
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,135 28,332
Other debtors 69,852 1,655
_______ _______
79,987 29,987
_______ _______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Alexander Macleod 1,655 109,197 ( 41,000) 69,852
_______ _______ _______ _______
2018
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Alexander Macleod ( 78,367) 104,022 ( 24,000) 1,655
_______ _______ _______ _______
There are no terms of repayment and no interest is charged on the loan.