Dellburn Transport Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC154258 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2022

for

Dellburn Transport Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J F Pickett

Mrs C W Pickett

SECRETARY:

Mrs C W Pickett

REGISTERED OFFICE:

145 St. Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC154258 (Scotland)

ACCOUNTANTS:

McLay, McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

14,875

76,485

Investment property

5

950,000

741,128

964,875

817,613

CURRENT ASSETS

Debtors

6

2,553

35,390

Cash at bank

256,461

41,084

259,014

76,474

CREDITORS

Amounts falling due within one year

7

(121,551

)

(181,263

)

NET CURRENT ASSETS/(LIABILITIES)

137,463

(104,789

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,102,338

712,824

CREDITORS

Amounts falling due after more than one year

8

(128,355

)

(76,660

)

PROVISIONS FOR LIABILITIES

(18,415

)

(14,224

)

NET ASSETS

955,568

621,940

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

268,360

75,076

Retained earnings

687,206

546,862

SHAREHOLDERS' FUNDS

955,568

621,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2023 and were signed on its behalf by:

J F Pickett - Director

1.	STATUTORY INFORMATION

Dellburn Transport 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 as modified by the revaluation of certain assets.

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 etc

-

25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Taxation

Taxation for the year comprises current and deferred tax. 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 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 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2021

308,838

Additions

2,750

Disposals

(220,419

)

At 30 November 2022

91,169

DEPRECIATION

At 1 December 2021

232,353

Charge for year

4,959

Eliminated on disposal

(161,018

)

At 30 November 2022

76,294

NET BOOK VALUE

At 30 November 2022

14,875

At 30 November 2021

76,485

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2021

741,128

Revaluations

208,872

At 30 November 2022

950,000

NET BOOK VALUE

At 30 November 2022

950,000

At 30 November 2021

741,128

The properties were valued by Graham + Sibbald LLP during 2022 at £950,000.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Trade debtors

2,384

35,211

Other debtors

169

179

2,553

35,390

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Bank loans and overdrafts

31,184

112,969

Trade creditors

2,661

10,826

Taxation and social security

65,749

35,517

Other creditors

21,957

21,951

121,551

181,263

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.22

30.11.21

£

£

Bank loans

128,355

76,660

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.22

30.11.21

£

£

Bank Loan < 1 year

31,184

112,969

Bank Loan > 1 year

128,355

76,660

159,539

189,629

The bank borrowings are secured by a standard security over the company's property and the hire purchase contracts are secured over the relevant assets.