D. Blake & Co. Limited Filleted accounts for Companies House (small and micro)

D. BLAKE & CO. LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC030911

D. Blake & Co. Limited

Filleted Unaudited Financial Statements

30 June 2023

D. Blake & Co. Limited

Statement of Financial Position

30 June 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	64,623	42,118

Current assets

Stocks		302,259	355,650
Debtors: due within one year	6	54,737	84,055
Debtors: due after more than one year	6	59,968	45,033
Cash at bank and in hand		304,945	284,340
		---------	---------
		721,909	769,078

Creditors: amounts falling due within one year	7	188,947	301,499
		---------	---------
Net current assets		532,962	467,579
		---------	---------
Total assets less current liabilities		597,585	509,697

Creditors: amounts falling due after more than one year	8	28,432	–

Provisions	14,899	9,281
	---------	---------
Net assets	554,254	500,416
	---------	---------

Capital and reserves

Called up share capital	9	5,600	5,600
Capital redemption reserve		4,400	4,400
Profit and loss account		544,254	490,416
		---------	---------
Shareholders funds		554,254	500,416
		---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

D. Blake & Co. Limited

Statement of Financial Position (continued)

30 June 2023

These financial statements were approved by the board of directors and authorised for issue on 10 November 2023 , and are signed on behalf of the board by:

M D Thomson
Director

Company registration number: SC030911

D. Blake & Co. Limited

Notes to the Financial Statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 6 Broughton Park, Newhailes Industrial Estate, Newhailes Road, Musselburgh, EH21 GSY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

Plant and machinery	-	33% straight line
Motor vehicles	-	33% straight line

Impairment of fixed assets

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

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 assets, which include trade and other debtors and cash, 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. Basic financial liabilities, which include trade and other creditors, 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. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Defined benefit plans

The company participates in the Plumbing and Mechanical Services (UK) Industry Pension Scheme, a multi-employer defined benefit scheme. As it is not possible to separately determine the assets and liabilities of the plan, contributions are recognised as an expense as they become payable.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 29 (2022: 30 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 July 2022	27,816	130,977	158,793
Additions	–	50,215	50,215
	--------	---------	---------
At 30 June 2023	27,816	181,192	209,008
	--------	---------	---------
Depreciation
At 1 July 2022	21,009	95,666	116,675
Charge for the year	4,733	22,977	27,710
	--------	---------	---------
At 30 June 2023	25,742	118,643	144,385
	--------	---------	---------
Carrying amount
At 30 June 2023	2,074	62,549	64,623
	--------	---------	---------
At 30 June 2022	6,807	35,311	42,118
	--------	---------	---------

6. Debtors

Debtors falling due within one year are as follows:

	2023	2022
	£	£
Trade debtors	28,919	56,085
Other debtors	25,818	27,970
	--------	--------
	54,737	84,055
	--------	--------

Debtors falling due after one year are as follows:

	2023	2022
	£	£
Trade debtors	59,968	45,033
	--------	--------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	90,162	90,728
Amounts owed to group undertakings and undertakings in which the company has a participating interest	58,995	100,000
Corporation tax	7,390	35,521
Social security and other taxes	18,784	19,731
Other creditors	13,616	55,519
	---------	---------
	188,947	301,499
	---------	---------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	28,432	–
	--------	----

9. Called up share capital

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary shares of £ 1 each	5,600	5,600	5,600	5,600
	-------	-------	-------	-------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2023	2022
	£	£
Not later than 1 year	45,878	47,254
Later than 1 year and not later than 5 years	78,000	123,878
	---------	---------
	123,878	171,132
	---------	---------

11. Contingencies

The company participates in the Plumbing and Mechanical Services (UK) Industry Pension Scheme, a multi-employer defined benefit scheme. The directors consider that whilst it is possible that a liability could result in future from a potential funding deficit, at present the amount of any such liability cannot be reliably estimated and as such no provision is recognised .