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REGISTERED NUMBER: SC339565 (Scotland)















Financial Statements for the Year Ended 31 March 2023

for

DAVIDSON & SHIRLEY LIMITED

DAVIDSON & SHIRLEY LIMITED (REGISTERED NUMBER: SC339565)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

DAVIDSON & SHIRLEY LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: W Tennant
J Robertson





SECRETARY: J Robertson





REGISTERED OFFICE: 11 Hope Street
Lanark
ML11 7ND





REGISTERED NUMBER: SC339565 (Scotland)





ACCOUNTANTS: G O Thomson & Co
Chartered Accountants
13 Hope Street
Lanark
Lanarkshire
ML11 7NL

DAVIDSON & SHIRLEY LIMITED (REGISTERED NUMBER: SC339565)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 304,808 317,308
Tangible assets 5 17,286 18,626
322,094 335,934

CURRENT ASSETS
Debtors 6 194,858 230,106
Cash at bank 404,956 307,533
599,814 537,639
CREDITORS
Amounts falling due within one year 7 110,873 93,336
NET CURRENT ASSETS 488,941 444,303
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,035

780,237

PROVISIONS FOR LIABILITIES 3,427 3,427
NET ASSETS 807,608 776,810

CAPITAL AND RESERVES
Called up share capital 208 208
Capital redemption reserve 8 100 100
Retained earnings 8 807,300 776,502
SHAREHOLDERS' FUNDS 807,608 776,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DAVIDSON & SHIRLEY LIMITED (REGISTERED NUMBER: SC339565)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 5 September 2023 and were signed on its behalf by:




W Tennant - Director



J Robertson - Director


DAVIDSON & SHIRLEY LIMITED (REGISTERED NUMBER: SC339565)

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

1. STATUTORY INFORMATION

Davidson & Shirley 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.

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. Turnover includes revenue earned from the rendering of services, namely legal services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2008 is being amortised evenly over its estimated useful life.

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 - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
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 reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

DAVIDSON & SHIRLEY LIMITED (REGISTERED NUMBER: SC339565)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 500,000
AMORTISATION
At 1 April 2022 182,692
Charge for year 12,500
At 31 March 2023 195,192
NET BOOK VALUE
At 31 March 2023 304,808
At 31 March 2022 317,308

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 49,329
Additions 1,715
At 31 March 2023 51,044
DEPRECIATION
At 1 April 2022 30,703
Charge for year 3,055
At 31 March 2023 33,758
NET BOOK VALUE
At 31 March 2023 17,286
At 31 March 2022 18,626

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors & W. I. P. 132,213 173,305
Amounts due by clients 47,555 42,547
Prepayments 15,090 14,254
194,858 230,106

DAVIDSON & SHIRLEY LIMITED (REGISTERED NUMBER: SC339565)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 97,263 86,095
Other creditors 13,610 7,241
110,873 93,336

8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2022 776,502 100 776,602
Profit for the year 288,548 288,548
Dividends (257,750 ) (257,750 )
At 31 March 2023 807,300 100 807,400

9. ULTIMATE CONTROLLING PARTY

In the opinion of the directors W. Tennant and J. Robertson who are the shareholders of the company, there is no ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Davidson & Shirley Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Davidson & Shirley Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Davidson & Shirley Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Davidson & Shirley Limited and state those matters that we have agreed to state to the Board of Directors of Davidson & Shirley Limited, as a body, in this report in accordance with the requirements of ICAS 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 and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Davidson & Shirley Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Davidson & Shirley Limited. You consider that Davidson & Shirley Limited 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 financial statements of Davidson & Shirley Limited. 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 financial statements.






G O Thomson & Co
Chartered Accountants
13 Hope Street
Lanark
Lanarkshire
ML11 7NL


5 September 2023