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Registered Number: SC683153
Scotland

 

 

 

DALZIEL & SONS COMMERCIAL SALES & RENTALS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022
Director Ian Dalziel
Registered Number SC683153
Registered Office 24 kings drive
Motherwell
North Lanarkshire
ML1 4HZ
Accountants Sj Accountancy and Tax Ltd
30 Kings Drive

Motherwell
ML1 4HZ
1
Director's report and financial statements
Dalziel & Sons Commercial Sales & Rentals LtdThe directors present their annual report and the financial statements for the year ended 31 December 2022.
Director
The director who served the company throughout the year was as follows:
Ian Dalziel
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director 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 the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is 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. The director is 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.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Ian Dalziel
Director

Date approved: 30 September 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Sj Accountancy and Tax Ltd
31 December 2022



....................................................
Sj Accountancy and Tax Ltd
30 Kings Drive

Motherwell
ML1 4HZ
30 September 2023
3
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 30,347    8,145 
30,347    8,145 
Current assets      
Stocks 4 46,755    15,619 
Debtors 5 1,600    2,244 
Cash at bank and in hand 14,879    (46)
63,234    17,817 
Creditors: amount falling due within one year 6 (65,430)   (29,439)
Net current liabilities (2,196)   (11,622)
 
Total assets less current liabilities 28,151    (3,477)
Creditors: amount falling due after more than one year 7 (32,918)  
Net liabilities (4,767)   (3,477)
 

Capital and reserves
     
Called up share capital 8 175    175 
Profit and loss account (4,942)   (3,652)
Shareholder's funds (4,767)   (3,477)
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 September 2023 and were signed by:


-------------------------------
Ian Dalziel
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
Profit for the year (3,652) (3,652)
Total comprehensive income for the year (3,652) (3,652)
Shares issued 175  175 
Total investments by and distributions to owners 175  175 
At 31 December 2021 175  (3,652) (3,477)
At 01 January 2022 175  (3,652) (3,477)
Profit for the year (1,290) (1,290)
Total comprehensive income for the year (1,290) (1,290)
Total investments by and distributions to owners
At 31 December 2022 175  (4,942) (4,767)
5
General Information
Dalziel & Sons Commercial Sales & Rentals Ltd is a private company, limited by shares, registered in Scotland, registration number SC683153, registration address 24 kings drive, Motherwell, North Lanarkshire, ML1 4HZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a 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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 20%
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2022 8,182    8,182 
Additions 34,318    34,318 
Disposals  
At 31 December 2022 42,500    42,500 
Depreciation
At 01 January 2022 37    37 
Charge for year 12,116    12,116 
On disposals  
At 31 December 2022 12,153    12,153 
Net book values
Closing balance as at 31 December 2022 30,347    30,347 
Opening balance as at 01 January 2022 8,145    8,145 

The net book value of Plant and machinery etc includes £ 30,238 in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2022
£
  2021
£
Stocks 46,755    15,619 
46,755    15,619 

5.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 1,600   
VAT   2,244 
1,600    2,244 

6.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 5,612    5,050 
Bank Loans & Overdrafts 32,750    21,450 
Other Creditors (1)   (1)
Directors' Current Accounts 25,517    2,940 
VAT 1,552   
65,430    29,439 

7.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Obligations Under HP/Financial Leases 32,918   
32,918   

8.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
175 Class A shares of £1.00 each 175    175 
175    175 

6