DGPS4U Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC281688 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

DGPS4U Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Sugden

SECRETARY:

Mrs V Sugden

REGISTERED OFFICE:

Emmerdale

Peelbog

Lumphanan

Banchory

AB31 4QE

REGISTERED NUMBER:

SC281688 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Tangible assets

4

351

188

CURRENT ASSETS

Stocks

35,219

34,761

Debtors

5

14,520

37,175

Cash at bank

15,823

11,470

65,562

83,406

CREDITORS

Amounts falling due within one year

6

10,410

26,920

NET CURRENT ASSETS

55,152

56,486

TOTAL ASSETS LESS CURRENT LIABILITIES

55,503

56,674

PROVISIONS FOR LIABILITIES

67

36

NET ASSETS

55,436

56,638

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

55,426

56,628

SHAREHOLDERS' FUNDS

55,436

56,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2020 and were signed by:

Mr J Sugden - Director

1.	STATUTORY INFORMATION

DGPS4U Limited 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.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

13,760

2,286

16,046

Additions

-

302

302

At 31 March 2020

13,760

2,588

16,348

DEPRECIATION

At 1 April 2019

13,572

2,286

15,858

Charge for year

63

76

139

At 31 March 2020

13,635

2,362

15,997

NET BOOK VALUE

At 31 March 2020

125

226

351

At 31 March 2019

188

-

188

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

14,431

36,695

Other debtors

89

480

14,520

37,175

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

1,415

7,702

Taxation and social security

313

8,690

Other creditors

8,682

10,528

10,410

26,920

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to (from) a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

Mr J Sugden

Balance outstanding at start of year

(7,153

)

(10,492

)

Amounts advanced

2,471

18,526

Amounts repaid

(1,093

)

(15,187

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,775

)

(7,153

)

8.	ULTIMATE CONTROLLING PARTY

The company was under the control of the director and his wife throughout the year.