REGISTERED NUMBER: SC547256 (Scotland)

Financial Statements

for the Year Ended 31 December 2022

for

Dalglen (No.1810) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Easdale

REGISTERED OFFICE:

99 Earnhill Road

Larkfield Industrial Estate

Greenock

Renfrewshire

PA16 0EQ

REGISTERED NUMBER:

SC547256 (Scotland)

AUDITORS:

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

FIXED ASSETS

Tangible assets

4

10,488

10,804

Investment property

5

11,108,193

10,836,307

11,118,681

10,847,111

CURRENT ASSETS

Debtors

6

2,704,190

2,263,147

Cash at bank

172,522

358,643

2,876,712

2,621,790

CREDITORS

Amounts falling due within one year

7

3,706,071

3,677,819

NET CURRENT LIABILITIES

(829,359

)

(1,056,029

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,289,322

9,791,082

CREDITORS

Amounts falling due after more than one year

8

4,591,238

4,908,290

NET ASSETS

5,698,084

4,882,792

CAPITAL AND RESERVES

Called up share capital

2,411,202

2,411,202

Retained earnings

3,286,882

2,471,590

5,698,084

4,882,792

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 29 September 2023 and were signed by:

J Easdale - Director

1.	STATUTORY INFORMATION

Dalglen (No.1810) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors

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

Creditors

Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

13,504

Additions

1,150

At 31 December 2022

14,654

DEPRECIATION

At 1 January 2022

2,700

Charge for year

1,466

At 31 December 2022

4,166

NET BOOK VALUE

At 31 December 2022

10,488

At 31 December 2021

10,804

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

10,836,307

Additions

530,886

Disposals

(259,000

)

At 31 December 2022

11,108,193

NET BOOK VALUE

At 31 December 2022

11,108,193

At 31 December 2021

10,836,307

The director is of the opinion that the fair value of the company's investment properties at 31.12.22 was £11,108,193 (2021 - £10,836,307).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

78,629

32,744

Other debtors

2,625,561

2,230,403

2,704,190

2,263,147

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

279,655

269,760

Trade creditors

46,026

86,256

Taxation and social security

374,506

297,449

Other creditors

3,005,884

3,024,354

3,706,071

3,677,819

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

4,591,238

4,908,290

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

4,857,989

5,178,050

The bank and other finance provider have securities over the properties which the company owns.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Henderson (Senior Statutory Auditor)

for and on behalf of Henderson & Company

11.	RELATED PARTY DISCLOSURES

At 31 December 2022 the company was owed £1,797,496 (2021- £1,944,777) from companies in which J. Easdale, director, had an interest in. At 31 December 2022 the company owed £2,843,503 (2021 - £2,875,544) to companies in which J. Easdale, director, had an interest in. All of loans are interest free and there are no fixed repayment dates.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.