Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 SC040747 2017-04-01 2018-03-31 SC040747 2016-04-01 2017-03-31 SC040747 2018-03-31 SC040747 2017-03-31 SC040747 2016-04-01 SC040747 c:Director1 2017-04-01 2018-03-31 SC040747 c:RegisteredOffice 2017-04-01 2018-03-31 SC040747 c:Agent1 2017-04-01 2018-03-31 SC040747 d:PlantMachinery 2017-04-01 2018-03-31 SC040747 d:PlantMachinery 2018-03-31 SC040747 d:PlantMachinery 2017-03-31 SC040747 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC040747 d:MotorVehicles 2017-04-01 2018-03-31 SC040747 d:MotorVehicles 2018-03-31 SC040747 d:MotorVehicles 2017-03-31 SC040747 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC040747 d:OfficeEquipment 2017-04-01 2018-03-31 SC040747 d:OfficeEquipment 2018-03-31 SC040747 d:OfficeEquipment 2017-03-31 SC040747 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC040747 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC040747 d:CurrentFinancialInstruments 2018-03-31 SC040747 d:CurrentFinancialInstruments 2017-03-31 SC040747 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 SC040747 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 SC040747 d:ShareCapital 2018-03-31 SC040747 d:ShareCapital 2017-03-31 SC040747 d:RetainedEarningsAccumulatedLosses 2018-03-31 SC040747 d:RetainedEarningsAccumulatedLosses 2017-03-31 SC040747 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 SC040747 d:AcceleratedTaxDepreciationDeferredTax 2017-03-31 SC040747 c:FRS102 2017-04-01 2018-03-31 SC040747 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 SC040747 c:FullAccounts 2017-04-01 2018-03-31 SC040747 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

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DALTONS DEMOLITIONS LIMITED


Company registration number SC040747


FILING FINANCIAL STATEMENTS


FOR THE YEAR ENDED 31 MARCH 2018































 
DALTONS DEMOLITIONS LIMITED
 

CONTENTS



Page
Company Information
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 10



 
DALTONS DEMOLITIONS LIMITED
 
 
COMPANY INFORMATION


Director
Mr P T Dalton 




Registered number
SC040747



Registered office
Gogarbank Iron & Steel Works
Station Road

Edinburgh

EH12 9BU




Accountants
Scott-Moncrieff
Chartered Accountants

Exchange Place 3

Semple Street

Edinburgh

EH3 8BL




Solicitors
Addleshaw Goddard
Exchange Tower

19 Canning Street

Edinburgh

EH3 8EH




1

 
DALTONS DEMOLITIONS LIMITED
REGISTERED NUMBER:SC040747

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
918,739
396,856

  
918,739
396,856

Current assets
  

Debtors: amounts falling due within one year
 5 
571,910
544,634

Cash at bank and in hand
  
1,298,662
1,433,839

  
1,870,572
1,978,473

Creditors: amounts falling due within one year
 6 
(312,950)
(348,517)

Net current assets
  
 
 
1,557,622
 
 
1,629,956

Total assets less current liabilities
  
2,476,361
2,026,812

Provisions for liabilities
  

Deferred tax
 7 
(69,851)
(48,290)

  
 
 
(69,851)
 
 
(48,290)

Net assets
  
2,406,510
1,978,522


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
2,405,510
1,977,522

  
2,406,510
1,978,522


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

As permitted by Section 444 of the Companies Act 2006, the director has not delivered to the Registrar a copy of the company's Statement of Income and Retained Earnings for the year ended 31 March 2018.

2

 
DALTONS DEMOLITIONS LIMITED
REGISTERED NUMBER:SC040747
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

The financial statements were approved and authorised for issue by the board and were signed on it behalf by:



................................................
Mr P T Dalton
Director

Date: 1 November 2018

The notes on pages 4 to 10 form part of these financial statements.

3


 
DALTONS DEMOLITIONS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

These financial statements are presented in Pounds Sterling (GBP) as that is the currency in which the company's transactions are denominated.  They comprise the financial statements of the company drawn up for the year ended 31 March 2018.
The continuing activity of Daltons Demolitions Ltd ('the company') is that of a demolition contractor.
 
The company is a private company limited by shares and is incorporated in United Kingdom and registered in Scotland. Details of the registered office can be found on the company information page of these financial statements. The company's registered number is SC040747.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with applicable law and United Kingdom Accounting Standards including Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and The Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice applicable to Small Entities). 
The preparation of financial statements in compliance with Section 1A 'Small Entities' of FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director is of the opinion that the company can continue to meet its obligations as they fall due for the foreseeable future.  On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

4


 
DALTONS DEMOLITIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.5

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

5


 
DALTONS DEMOLITIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line
Fixtures, fittings & equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

6


 
DALTONS DEMOLITIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

Staff costs were as follows:


The average monthly number of employees, including directors, during the year was 25 (2017 - 20).

7


 
DALTONS DEMOLITIONS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures, fittings & equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2017
768,223
152,019
7,457
927,699


Additions
747,640
84,563
750
832,953


Disposals
(218,000)
(48,757)
-
(266,757)



At 31 March 2018

1,297,863
187,825
8,207
1,493,895



Depreciation


At 1 April 2017
455,874
70,296
4,673
530,843


Charge for the year on owned assets
162,662
36,516
1,830
201,008


Disposals
(116,267)
(40,428)
-
(156,695)



At 31 March 2018

502,269
66,384
6,503
575,156



Net book value



At 31 March 2018
795,594
121,441
1,704
918,739



At 31 March 2017
312,349
81,723
2,784
396,856

8


 
DALTONS DEMOLITIONS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

5.


Debtors

2018
2017
£
£


Trade debtors
423,282
375,524

Amounts owed by group undertakings
34,588
32,537

Other debtors
53,312
21,755

Prepayments
32,693
28,018

Amounts recoverable on long term contracts
28,035
86,800

571,910
544,634



6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
108,606
121,239

Amounts owed to group undertakings
26,110
25,612

Corporation tax
62,746
102,036

Other taxation and social security
53,521
64,130

Other creditors
23,569
1,097

Accruals
38,398
34,403

312,950
348,517



7.


Deferred taxation




2018
2017


£

£






At beginning of year
(48,290)
(63,711)


Charged to profit or loss
(21,561)
15,421



At end of year
(69,851)
(48,290)

9


 
DALTONS DEMOLITIONS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
 
7.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(69,851)
(48,290)

(69,851)
(48,290)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,121 (2017 - £110). At 31 March 2018 contributions amounting to £1,147 (2017 - £nil) were payable to the fund and are included within other creditors.

 
10