Dalglen (No.1008) Limited 30/11/2020 iXBRL

DALGLEN (NO. 1008) LIMITED - Company Information

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Company registration number: SC292878

Dalglen (No.1008) Limited

Unaudited filleted abridged financial statements

30 November 2020

Dalglen (No.1008) Limited

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

Dalglen (No.1008) Limited

Directors and other information


	Director	David Headen


	Secretary	Esme Headen


	Company number	SC292878


	Registered office	Harvest Moon
		Burnside
		Tayport
		Fife
		DD6 9PB


	Accountants	Paterson Boyd & Co
		18 North Street
		Glenrothes
		Fife
		KY7 5NA

Dalglen (No.1008) Limited

Report to the director on the preparation of the

unaudited statutory financial statements of Dalglen (No.1008) Limited

Year ended 30 November 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dalglen (No.1008) Limited for the year ended 30 November 2020 which comprise the abridged 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 director of Dalglen (No.1008) Limited, 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 Dalglen (No.1008) Limited and state those matters that we have agreed to state to them, 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 Dalglen (No.1008) Limited and its director as a body for our work or for this report.

It is your duty to ensure that Dalglen (No.1008) 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 profit of Dalglen (No.1008) Limited. You consider that Dalglen (No.1008) 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 Dalglen (No.1008) 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.

Paterson Boyd & Co

Chartered Accountants

18 North Street

Glenrothes

Fife

KY7 5NA

31 August 2021

Dalglen (No.1008) Limited

Abridged statement of financial position

30 November 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Tangible assets	5	669,384		673,233
		_______		_______
			669,384		673,233

Creditors: amounts falling due
within one year		( 896,847)		( 908,173)
		_______		_______
Net current liabilities			( 896,847)		( 908,173)
			_______		_______
Total assets less current liabilities			( 227,463)		( 234,940)

			_______		_______
Net liabilities			( 227,463)		( 234,940)
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			( 227,465)		( 234,942)
			_______		_______
Shareholders deficit			( 227,463)		( 234,940)
			_______		_______

For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 Section 1A of 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 abridged statement of income and retained earnings has not been delivered.

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 30 November 2020 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 31 August 2021 , and are signed on behalf of the board by:

David Headen

Director

Company registration number: SC292878

Dalglen (No.1008) Limited

Notes to the financial statements

Year ended 30 November 2020

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Harvest Moon, Burnside, Tayport, Fife, DD6 9PB.

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'. The Triennial review 2017 amendments to the standard have been early adopted.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Investment property	-	nil
Plant and machinery	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).

5. Tangible assets


		£
	Cost
	At 1 December 2019 and 30 November 2020	714,976
		_______
	Depreciation
	At 1 December 2019	41,743
	Charge for the year	3,849
		_______
	At 30 November 2020	45,592
		_______
	Carrying amount
	At 30 November 2020	669,384
		_______
	At 30 November 2019	673,233
		_______

The fair value of investment property has been assessed by the director, who considered the movement in the local property market over the last 12 months when arriving at the fair value.

6. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2020
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	David Headen	( 903,690)	( 30,821)	41,460	( 893,051)
		_______	_______	_______	_______

2019
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	David Headen	( 928,364)	( 34,666)	59,340	( 903,690)
		_______	_______	_______	_______

7. Related party transactions

For the whole of the financial year the company was under the control of its director David Headen .