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Registration number: SC591732

Dragon Business Support Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Dragon Business Support Services Ltd

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 7

 

Dragon Business Support Services Ltd

Company Information

Directors

Alan J Shepherd

Mrs Dorothy Shepherd

Registered office




Registered number

31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

SC591732 (Scotland)

Accountants

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

 

Dragon Business Support Services Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dragon Business Support Services Ltd
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dragon Business Support Services Ltd for the year ended 31 March 2022 as set out on pages 4 to 7 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance.

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Dragon Business Support Services Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that Dragon Business Support Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dragon Business Support Services Ltd. You consider that Dragon Business Support Services Ltd 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 accounts of Dragon Business Support Services Ltd. 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 accounts.

......................................

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

7 September 2022

 

Dragon Business Support Services Ltd

(Registration number: SC591732)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

6

27,748

42

Current assets

 

Debtors

7

7,804

150

Cash at bank and in hand

 

104,805

155,481

 

112,609

155,631

Creditors: Amounts falling due within one year

8

(9,536)

(31,756)

Net current assets

 

103,073

123,875

Total assets less current liabilities

 

130,821

123,917

Provisions for liabilities

9

(1,465)

-

Net assets

 

129,356

123,917

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

129,256

123,817

Shareholders' funds

 

129,356

123,917

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 September 2022 and signed on its behalf by:
 

.........................................
Alan J Shepherd
Director

 

Dragon Business Support Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland. Its registered number and registered office address can be found on the Company Information page.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared using the historical cost convention.

The presentation currency is sterling.

Revenue recognition

Turnover represents the total value, excluding VAT, of revenue earned during the period from the provision of business support services.

Tangible assets

Tangible fixed assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is provided at rates calculated so as to write off the cost less residual value of each asset over its expected useful life as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Land and buildings

5 years straight line

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

 

Dragon Business Support Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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 timing difference.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

7,800

167

Directors remuneration

21,672

21,672

5

Taxation

The tax charge on the profit for the year was as follows:

2022

2021

£

£

UK corporation tax

6,359

22,957

Deferred tax

1,465

-

7,824

22,957

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

-

501

501

Additions

25,050

10,456

35,506

At 31 March 2022

25,050

10,957

36,007

Depreciation

At 1 April 2021

-

459

459

Charge for the year

5,010

2,790

7,800

At 31 March 2022

5,010

3,249

8,259

Carrying amount

At 31 March 2022

20,040

7,708

27,748

At 31 March 2021

-

42

42

 

Dragon Business Support Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Debtors

2022
£

2021
£

Trade debtors

4,500

-

Prepayments

424

150

Other debtors

2,880

-

7,804

150

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

6,484

30,256

Accruals and deferred income

3,052

1,500

9,536

31,756

 

9

Provisions for liabilities

2022

2021

£

£

Deferred tax

1,465

-

£

Balance at

1 April 2021

-

Charge / (credit) to P & L account during the year

1,465

Balance at

31 March 2022

1,465

10

Share capital

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100