Demma (Scotland) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC587769 (Scotland)

Financial Statements for the Year Ended 31st January 2022

for

DEMMA (SCOTLAND) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Demma Group Ltd

Mr A L S Mackenzie

Mr D P Connell

Mr G A Poulton

REGISTERED OFFICE:

Caledonia Business Centre

Thornliebank Industrial Estate

Thornliebank

Glasgow

G46 8JT

REGISTERED NUMBER:

SC587769 (Scotland)

AUDITORS:

M.T.Manley & Co Limited (Statutory Auditor)

696 Yardley Wood Road

Billesley

Birmingham

West Midlands

B13 0HY

FIXED ASSETS

Tangible assets

4

6,161

321

CURRENT ASSETS

Stocks

5

9,100

8,400

Debtors

6

22,891

28,507

Cash at bank

42,134

110,285

74,125

147,192

CREDITORS

Amounts falling due within one year

7

129,887

225,871

NET CURRENT LIABILITIES

(55,762

)

(78,679

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(49,601

)

(78,358

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(49,701

)

(78,458

)

SHAREHOLDERS' FUNDS

(49,601

)

(78,358

)

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 Board of Directors and authorised for issue on 15th May 2022 and were signed on its behalf by:

Mr G A Poulton - Director

Mr D P Connell - Director

1.	STATUTORY INFORMATION

Demma (Scotland) Ltd 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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st February 2021

-

482

482

Additions

8,000

-

8,000

At 31st January 2022

8,000

482

8,482

DEPRECIATION

At 1st February 2021

-

161

161

Charge for year

2,000

160

2,160

At 31st January 2022

2,000

321

2,321

NET BOOK VALUE

At 31st January 2022

6,000

161

6,161

At 31st January 2021

-

321

321

5.

STOCKS

2022

2021

£

£

Stocks

9,100

8,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

5,653

7,607

Amounts owed by group undertakings

17,234

20,895

Other debtors

4

5

22,891

28,507

Included in amounts owed by group undertakings are the following balances due from:

£

Demma Services Limited

4,900

Demma Controls Limited

12,334

17,234

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,938

4,244

Amounts owed to group undertakings

109,905

199,905

Taxation and social security

15,424

19,062

Other creditors

2,620

2,660

129,887

225,871

Included in amounts owed to group undertakings are the following balances due to :

£

Demma Group Ltd

109,905

109,905

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

95

Ordinary A

£1

95

95

5

Ordinary B

£1

5

5

100

100

The ordinary A shares of £1 each and the ordinary B shares of £1 each both have voting rights, right to receive dividends and participate in capital distributions on a winding up. A dividend can be paid on one class of share irrespective of the other classes of shares.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Collins (Senior Statutory Auditor)

for and on behalf of M.T.Manley & Co Limited (Statutory Auditor)

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme of which the assets are held separately from those of the company. During the year the company contributed £2,757 (2021 £2,576) to the scheme.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Demma Group Ltd (Company Number 10543203 registered in England and Wales) by virtue of its 95% holding in the issued ordinary share capital.

12.	GOING CONCERN

The financial statements are prepared on the going concern basis, even though the company has liabilities in excess of assets, as the company has financial support from its parent undertaking to ensure that the company will continue to exist for at least 12 months from the date of signing the financial statements.