Donside Slating Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC402244 (Scotland)

Donside Slating Limited

Financial Statements For The Year Ended 31 July 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

B G Mackie

REGISTERED OFFICE:

Park House Business Centre

South Street

Elgin

Moray

IV30 1JB

REGISTERED NUMBER:

SC402244 (Scotland)

ACCOUNTANTS:

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

323,032

265,001

323,032

265,001

CURRENT ASSETS

Stocks

3,932

3,887

Debtors

6

70,158

82,252

Cash at bank

186,676

142,935

260,766

229,074

CREDITORS

Amounts falling due within one year

7

104,003

69,233

NET CURRENT ASSETS

156,763

159,841

TOTAL ASSETS LESS CURRENT LIABILITIES

479,795

424,842

CREDITORS

Amounts falling due after more than one year

8

(38,573

)

(18,229

)

PROVISIONS FOR LIABILITIES

9

(60,823

)

(49,699

)

NET ASSETS

380,399

356,914

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

380,299

356,814

SHAREHOLDERS' FUNDS

380,399

356,914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 January 2024 and were signed by:

B G Mackie - Director

1.	STATUTORY INFORMATION

Donside Slating 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment

-

33% on reducing balance, 25% on reducing balance, 15% on reducing balance and 10% 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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2022 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2022

and 31 July 2023

127,927

AMORTISATION

At 1 August 2022

and 31 July 2023

127,927

NET BOOK VALUE

At 31 July 2023

-

At 31 July 2022

-

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 August 2022

515,659

Additions

141,101

Disposals

(90,277

)

At 31 July 2023

566,483

DEPRECIATION

At 1 August 2022

250,658

Charge for year

57,329

Eliminated on disposal

(64,536

)

At 31 July 2023

243,451

NET BOOK VALUE

At 31 July 2023

323,032

At 31 July 2022

265,001

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Equipment

£

COST

At 1 August 2022

50,000

Additions

83,500

At 31 July 2023

133,500

DEPRECIATION

At 1 August 2022

7,500

Charge for year

10,614

At 31 July 2023

18,114

NET BOOK VALUE

At 31 July 2023

115,386

At 31 July 2022

42,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

65,970

80,607

Other debtors

4,188

1,645

70,158

82,252

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Hire purchase contracts

22,925

8,750

Trade creditors

36,443

25,630

Taxation and social security

16,797

14,293

Other creditors

27,838

20,560

104,003

69,233

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Hire purchase contracts

38,573

18,229

9.	PROVISIONS FOR LIABILITIES

31.7.23

31.7.22

£

£

Deferred tax

60,823

49,699

Deferred

tax

£

Balance at 1 August 2022

49,699

Provided during year

11,124

Balance at 31 July 2023

60,823

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 August 2022

356,814

Profit for the year

76,585

Dividends

(53,100

)

At 31 July 2023

380,299

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £53,100 (2022 - £21,500) were paid to the director .

B G Mackie

is a director in the company.

A interest free directors loan has been given to the company by the director. The loan is unsecured and is repayable on demand.

31.7.23

31.7.22

£

£

Amount due to related party at the balance sheet date

14,967

17,334

13.	ULTIMATE CONTROLLING PARTY

The controlling party is B G Mackie.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Donside Slating Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Donside Slating Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Donside Slating Limited and state those matters that we have agreed to state to the director of Donside Slating Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Donside Slating Limited and its director for our work or for this report.

It is your duty to ensure that Donside Slating 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 Donside Slating Limited. You consider that Donside Slating 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 Donside Slating 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.

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

4 January 2024