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REGISTERED NUMBER: SC264701 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Dalgarno Subshops Limited

Dalgarno Subshops Limited (Registered number: SC264701)






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


Dalgarno Subshops Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: L J Dalgarno
Mrs S L Dalgarno





REGISTERED OFFICE: 40 Redwood Avenue
Inverness
IV2 6HA





REGISTERED NUMBER: SC264701 (Scotland)






Dalgarno Subshops Limited (Registered number: SC264701)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 199,330 255,769
Investments 5 10,000 71,500
209,330 327,269

CURRENT ASSETS
Stocks 6 18,431 18,953
Debtors 7 1,140,319 736,854
Cash at bank 38,682 402,105
1,197,432 1,157,912
CREDITORS
Amounts falling due within one year 8 128,113 217,170
NET CURRENT ASSETS 1,069,319 940,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,278,649

1,268,011

CREDITORS
Amounts falling due after more than
one year

9

(108,691

)

(76,285

)

PROVISIONS FOR LIABILITIES (21,909 ) (24,081 )
NET ASSETS 1,148,049 1,167,645

Dalgarno Subshops Limited (Registered number: SC264701)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 1,147,849 1,167,445
SHAREHOLDERS' FUNDS 1,148,049 1,167,645

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:




L J Dalgarno - Director



Mrs S L Dalgarno - Director


Dalgarno Subshops Limited (Registered number: SC264701)

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

1. STATUTORY INFORMATION

Dalgarno Subshops 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" and the companies Act 2006.
The financial statements have been prepared under historical cost convention. The principal accounting policies adopted are set out below.

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 sale of goods and from the rendering of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
The gain or loss arising on disposal of an asset is determined as the difference between the sales proceeds and the carrying value of an asset and is credited or charged to profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Dalgarno Subshops Limited (Registered number: SC264701)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.

Classification of financial liabilities
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 liabilities
Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.
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 initially at transaction price and subsequently measured at amortized cost using the effective interest method.

Taxation
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.


Dalgarno Subshops Limited (Registered number: SC264701)

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

2. ACCOUNTING POLICIES - continued
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.

Fixed asset investments
Fixed asset investment comprise of investmnets in other valuable assets which are measured at cost at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 35 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Office
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 53,288 297,003 232,760 111,271 694,322
Additions - 375 - 8,928 9,303
At 31 March 2023 53,288 297,378 232,760 120,199 703,625
DEPRECIATION
At 1 April 2022 53,288 273,598 77,730 33,937 438,553
Charge for year - 5,874 38,758 21,110 65,742
At 31 March 2023 53,288 279,472 116,488 55,047 504,295
NET BOOK VALUE
At 31 March 2023 - 17,906 116,272 65,152 199,330
At 31 March 2022 - 23,405 155,030 77,334 255,769

Dalgarno Subshops Limited (Registered number: SC264701)

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

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.23 31.3.22
£    £   
ICTFC LTD - 61,500
Other investment 10,000 10,000
10,000 71,500

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 18,431 18,953

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Sales Control Account 27,724 17,973
Amounts owed by group undertakings 818,744 421,000
Other debtors 285,925 285,925
Prepayments and accrued income 7,926 11,956
1,140,319 736,854

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 10)
57,413

138,846
Trade creditors 22,763 6,594
Tax 1,565 33,454
Social security and other taxes 7,265 4,804
Pension liability 1,057 2,233
VAT 32,553 21,370
Other creditors - 365
Directors' current accounts 5,497 4,622
Accruals and deferred income - 4,882
128,113 217,170

Dalgarno Subshops Limited (Registered number: SC264701)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 10) 108,691 76,285

10. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 851 -
Bank loans < 1 year 56,562 138,846
57,413 138,846

Amounts falling due between two and five years:
Bank loans > 1 year 108,691 76,285

Included in the bank loans is the bounce back loan of £31,667 (2022 : £41,667).

Other bank loans £133,586 (2022 : £173,464) are secured by the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
200 Ordinary £1 200 200

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £5,497 (2022:£4,622) due to the directors, Mr L Dalgarno and Mrs S Dalgarno.

13. RELATED PARTY DISCLOSURES

Included in Other Debtors is the amount owed by North Ventures Property Ltd £285,925 (2022:£285,925), a company related to the directors.

Dalgarno Subshops Limited (Registered number: SC264701)

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

14. ULTIMATE CONTROLLING PARTY

The company's parent company is SLD Group Holdings Limited, a company registered in Scotland and it's registered office address is 40 Redwood Avenue Milton Of Leys, Inverness, Scotland, IV2 6HA.