Dusal Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC124801 (Scotland)

Financial Statements for the Year Ended 30 November 2022

for

DUSAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N I Hartley

J A Hartley

J Andrew BSc FCA

M J Gannon

G J Hartley

SECRETARY:

N I Hartley

REGISTERED OFFICE:

70 Nasmyth Road

Southfield Industrial Estate

Glenrothes

Fife

KY6 2SD

REGISTERED NUMBER:

SC124801 (Scotland)

SENIOR STATUTORY AUDITOR:

John Richard Hall

AUDITORS:

Walter Dawson & Son

1st Floor, Unit A4

Old Power Way

Lowfields Business Park

Elland

West Yorkshire

HX5 9DE

FIXED ASSETS

Property, plant and equipment

4

256,059

270,103

CURRENT ASSETS

Inventories

550,315

744,318

Debtors

5

368,625

476,928

Cash at bank and in hand

364,207

156,857

1,283,147

1,378,103

CREDITORS

Amounts falling due within one year

6

409,430

744,584

NET CURRENT ASSETS

873,717

633,519

TOTAL ASSETS LESS CURRENT LIABILITIES

1,129,776

903,622

CREDITORS

Amounts falling due after more than one year

7

(373,960

)

(361,629

)

PROVISIONS FOR LIABILITIES

(62,631

)

(51,115

)

NET ASSETS

693,185

490,878

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

693,085

490,778

SHAREHOLDERS' FUNDS

693,185

490,878

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2023 and were signed on its behalf by:

M J Gannon - Director

N I Hartley - Director

1.	STATUTORY INFORMATION

Dusal 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on the basis that the company will continue as a going concern for the foreseeable future. Following two years impact of COVID-19 on the UK leisure and private sectors, disruption to supply chains and high inflation, actions taken by the Directors and their Team continue to improve the profitability of the business to former levels. The Directors therefore remain of the opinion that the business is a going concern.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost, 10% on cost and in accordance with the property

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

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks

Inventories 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 Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.The company also makes contributions to the personal pension schemes of certain employees. The assets of the schemes are held separately from those of the company. The contributions payable are charged to the profit and loss account in the period to which they relate

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 17 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 December 2021

795,879

Additions

62,680

At 30 November 2022

858,559

DEPRECIATION

At 1 December 2021

525,776

Charge for year

76,724

At 30 November 2022

602,500

NET BOOK VALUE

At 30 November 2022

256,059

At 30 November 2021

270,103

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/22

30/11/21

£

£

Trade debtors

355,933

429,686

Other debtors

12,692

47,242

368,625

476,928

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/22

30/11/21

£

£

Trade creditors

275,729

392,128

Amounts owed to group undertakings

6,074

216,495

Taxation and social security

94,433

110,188

Other creditors

33,194

25,773

409,430

744,584

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/22

30/11/21

£

£

Amounts owed to group undertakings

373,960

361,629

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

The Report of the Auditors was unqualified.

John Richard Hall (Senior Statutory Auditor)

for and on behalf of Walter Dawson & Son

9.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £117,690.

(2021 - £163,650).

10.	ULTIMATE CONTROLLING PARTY

The controlling parties are Mr N I Hartley and Mrs J A Hartley by virtue of their joint ownership of all the share capital in the parent company.

11.	ULTIMATE PARENT COMPANY

Merrygill Limited (incorporated in England & Wales) is regarded by the directors as being the company's

ultimate parent company.

Groups accounts available from:

Companies House

Crown Way

Cardiff

CF14 3UZ