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Registration number: SC591732

Dragon Business Support Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Dragon Business Support Services Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 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

 

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 2023

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 2023 as set out on pages 3 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

3 October 2023

 

Dragon Business Support Services Ltd

(Registration number: SC591732)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

21,652

27,748

Current assets

 

Debtors

7

7,836

7,804

Cash at bank and in hand

 

139,748

104,805

 

147,584

112,609

Creditors: Amounts falling due within one year

8

(16,524)

(9,536)

Net current assets

 

131,060

103,073

Total assets less current liabilities

 

152,712

130,821

Provisions for liabilities

9

(1,325)

(1,465)

Net assets

 

151,387

129,356

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

151,287

129,256

Shareholders' funds

 

151,387

129,356

For the financial year ending 31 March 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 October 2023 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 2023

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.

Going concern

The financial statements have been prepared on a going concern basis.

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

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

 

Dragon Business Support Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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 (2022 - 2).

 

Dragon Business Support Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

8,525

7,800

Directors remuneration

21,672

21,672

5

Taxation

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

2023

2022

£

£

UK corporation tax

13,900

6,359

Deferred tax

(140)

1,465

13,760

7,824

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

25,050

10,957

36,007

Additions

-

2,429

2,429

At 31 March 2023

25,050

13,386

38,436

Depreciation

At 1 April 2022

5,010

3,249

8,259

Charge for the year

5,010

3,515

8,525

At 31 March 2023

10,020

6,764

16,784

Carrying amount

At 31 March 2023

15,030

6,622

21,652

At 31 March 2022

20,040

7,708

27,748

 

Dragon Business Support Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Debtors

2023
£

2022
£

Trade debtors

7,500

4,500

Prepayments

336

424

Other debtors

-

2,880

7,836

7,804

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

14,911

6,484

Accruals and deferred income

1,613

3,052

16,524

9,536

 

9

Provisions for liabilities

2023

2022

£

£

Deferred tax

1,325

1,465

£

Balance at

1 April 2022

1,465

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

(140)

Balance at

31 March 2023

1,325

10

Share capital

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100