Silverfin false 31/01/2023 01/02/2022 31/01/2023 Dr F Blin 19/01/2023 11/10/2018 I A Dalziel 21/03/2023 L Main-Dalziel 05/03/2020 R Parker 19/01/2023 24/01/1995 23 October 2023 The principal activity of the Company during the financial year continued to be the sale of decals, other promotional and gift items and textile products. SC155539 2023-01-31 SC155539 bus:Director1 2023-01-31 SC155539 bus:Director2 2023-01-31 SC155539 bus:Director3 2023-01-31 SC155539 bus:Director4 2023-01-31 SC155539 2022-01-31 SC155539 core:CurrentFinancialInstruments 2023-01-31 SC155539 core:CurrentFinancialInstruments 2022-01-31 SC155539 core:Non-currentFinancialInstruments 2023-01-31 SC155539 core:Non-currentFinancialInstruments 2022-01-31 SC155539 core:ShareCapital 2023-01-31 SC155539 core:ShareCapital 2022-01-31 SC155539 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC155539 core:RetainedEarningsAccumulatedLosses 2022-01-31 SC155539 core:PlantMachinery 2022-01-31 SC155539 core:Vehicles 2022-01-31 SC155539 core:FurnitureFittings 2022-01-31 SC155539 core:ComputerEquipment 2022-01-31 SC155539 core:PlantMachinery 2023-01-31 SC155539 core:Vehicles 2023-01-31 SC155539 core:FurnitureFittings 2023-01-31 SC155539 core:ComputerEquipment 2023-01-31 SC155539 bus:OrdinaryShareClass1 2023-01-31 SC155539 2022-02-01 2023-01-31 SC155539 bus:FullAccounts 2022-02-01 2023-01-31 SC155539 bus:SmallEntities 2022-02-01 2023-01-31 SC155539 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 SC155539 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 SC155539 bus:Director1 2022-02-01 2023-01-31 SC155539 bus:Director2 2022-02-01 2023-01-31 SC155539 bus:Director3 2022-02-01 2023-01-31 SC155539 bus:Director4 2022-02-01 2023-01-31 SC155539 core:PlantMachinery 2022-02-01 2023-01-31 SC155539 core:Vehicles 2022-02-01 2023-01-31 SC155539 core:FurnitureFittings 2022-02-01 2023-01-31 SC155539 core:ComputerEquipment 2022-02-01 2023-01-31 SC155539 2021-02-01 2022-01-31 SC155539 core:CurrentFinancialInstruments 2022-02-01 2023-01-31 SC155539 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 SC155539 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 SC155539 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC155539 (Scotland)

THE DECAL COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH THE REGISTRAR

THE DECAL COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023

Contents

THE DECAL COMPANY LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2023
THE DECAL COMPANY LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,975 84,016
27,975 84,016
Current assets
Stocks 605,602 274,625
Debtors 4 971,418 416,117
Cash at bank and in hand 34,390 826,374
1,611,410 1,517,116
Creditors: amounts falling due within one year 5 ( 966,615) ( 612,917)
Net current assets 644,795 904,199
Total assets less current liabilities 672,770 988,215
Creditors: amounts falling due after more than one year 6 ( 250,782) ( 334,444)
Provision for liabilities 7 ( 3,389) ( 18,873)
Net assets 418,599 634,898
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 418,499 634,798
Total shareholder's funds 418,599 634,898

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Decal Company Limited (registered number: SC155539) were approved and authorised for issue by the Director on 23 October 2023. They were signed on its behalf by:

L Main-Dalziel
Director
THE DECAL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
THE DECAL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Decal Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 13 Carlyle Avenue, Hillington Park, Glasgow, G52 4XX, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, are recognised at transaction price

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 16

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 February 2022 24,729 81,650 34,936 32,209 173,524
Additions 0 0 608 756 1,364
Disposals 0 ( 81,650) 0 0 ( 81,650)
At 31 January 2023 24,729 0 35,544 32,965 93,238
Accumulated depreciation
At 01 February 2022 16,318 31,239 21,130 20,821 89,508
Charge for the financial year 1,682 9,545 2,883 2,429 16,539
Disposals 0 ( 40,784) 0 0 ( 40,784)
At 31 January 2023 18,000 0 24,013 23,250 65,263
Net book value
At 31 January 2023 6,729 0 11,531 9,715 27,975
At 31 January 2022 8,411 50,411 13,806 11,388 84,016

4. Debtors

2023 2022
£ £
Trade debtors 524,029 234,862
Other debtors 447,389 181,255
971,418 416,117

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 83,663 83,667
Trade creditors 331,717 22,182
Taxation and social security 417,295 207,848
Other creditors 133,940 299,220
966,615 612,917

Hire purchase liabilities of £nil(2022 - £52,473 ) are secured over assets they were used to purchase.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 250,782 334,444

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

2023 2022
£ £
Deferred tax 3,389 18,873

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Other related parties 36,000 36,000