Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity4039trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC034342 2022-04-01 2023-03-31 SC034342 2021-04-01 2022-03-31 SC034342 2023-03-31 SC034342 2022-03-31 SC034342 c:CompanySecretary1 2022-04-01 2023-03-31 SC034342 c:Director1 2022-04-01 2023-03-31 SC034342 c:Director2 2022-04-01 2023-03-31 SC034342 c:Director3 2022-04-01 2023-03-31 SC034342 c:RegisteredOffice 2022-04-01 2023-03-31 SC034342 d:Buildings 2022-04-01 2023-03-31 SC034342 d:Buildings 2023-03-31 SC034342 d:Buildings 2022-03-31 SC034342 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC034342 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 SC034342 d:Buildings d:LongLeaseholdAssets 2023-03-31 SC034342 d:Buildings d:LongLeaseholdAssets 2022-03-31 SC034342 d:PlantMachinery 2022-04-01 2023-03-31 SC034342 d:PlantMachinery 2023-03-31 SC034342 d:PlantMachinery 2022-03-31 SC034342 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC034342 d:MotorVehicles 2022-04-01 2023-03-31 SC034342 d:MotorVehicles 2023-03-31 SC034342 d:MotorVehicles 2022-03-31 SC034342 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC034342 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC034342 d:OtherPropertyPlantEquipment 2023-03-31 SC034342 d:OtherPropertyPlantEquipment 2022-03-31 SC034342 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC034342 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC034342 d:CurrentFinancialInstruments 2023-03-31 SC034342 d:CurrentFinancialInstruments 2022-03-31 SC034342 d:Non-currentFinancialInstruments 2023-03-31 SC034342 d:Non-currentFinancialInstruments 2022-03-31 SC034342 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC034342 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC034342 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC034342 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 SC034342 d:ShareCapital 2023-03-31 SC034342 d:ShareCapital 2022-03-31 SC034342 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC034342 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC034342 c:FRS102 2022-04-01 2023-03-31 SC034342 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC034342 c:FullAccounts 2022-04-01 2023-03-31 SC034342 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC034342 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: SC034342










D W ARGO LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
D W ARGO LIMITED
 

COMPANY INFORMATION


DIRECTORS
D W Argo 
N Argo 
Mrs L E Neill 




COMPANY SECRETARY
L Neill



REGISTERED NUMBER
SC034342



REGISTERED OFFICE
Harvieston

Stonehaven

Kincardineshire

AB39 2TY




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
D W ARGO LIMITED
REGISTERED NUMBER: SC034342

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
6,920,435
7,051,920

Investments
 5 
360
360

  
6,920,795
7,052,280

CURRENT ASSETS
  

Stocks
  
2,647,129
2,490,196

Debtors: amounts falling due within one year
 6 
298,798
487,237

Cash at bank and in hand
  
1,765
1,765

  
2,947,692
2,979,198

Creditors: amounts falling due within one year
 7 
(4,870,897)
(4,245,508)

NET CURRENT LIABILITIES
  
 
 
(1,923,205)
 
 
(1,266,310)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,997,590
5,785,970

Creditors: amounts falling due after more than one year
 8 
(4,110,985)
(4,462,712)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(141,044)
(166,555)

  
 
 
(141,044)
 
 
(166,555)

NET ASSETS
  
745,561
1,156,703


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
745,461
1,156,603

  
745,561
1,156,703


Page 1

 
D W ARGO LIMITED
REGISTERED NUMBER: SC034342

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 November 2023.




D W Argo
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
D W ARGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

D W Argo Limited is a private company, limited by shares, incorporated in Scotland with registration number SC034342.  The registered office is Harvieston, Stonehaven, Kincardineshire, AB39 2TY.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
D W ARGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Property improvements
-
4% straight line
Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance
Wind turbine
-
5% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

VALUATION OF INVESTMENTS

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Page 4

 
D W ARGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.7
FINANCIAL INSTRUMENTS (CONTINUED)


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.

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 40 (2022 - 39).

Page 5

 
D W ARGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


TANGIBLE FIXED ASSETS





Land and buildings
Property improvements
Plant and machinery
Motor vehicles
Wind turbine
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 April 2022
2,596,001
3,198,627
1,238,061
85,089
1,357,178
8,474,956


Additions
-
41,475
150,499
1,950
-
193,924


Disposals
-
-
(4,201)
(1,500)
-
(5,701)



At 31 March 2023

2,596,001
3,240,102
1,384,359
85,539
1,357,178
8,663,179



DEPRECIATION


At 1 April 2022
-
651,256
454,403
45,937
271,440
1,423,036


Charge for the year on owned assets
-
125,692
116,255
9,901
67,860
319,708



At 31 March 2023

-
776,948
570,658
55,838
339,300
1,742,744



NET BOOK VALUE



At 31 March 2023
2,596,001
2,463,154
813,701
29,701
1,017,878
6,920,435



At 31 March 2022
2,596,001
2,547,371
783,658
39,152
1,085,738
7,051,920


5.


FIXED ASSET INVESTMENTS





Unlisted investments

£



COST OR VALUATION


At 1 April 2022
360



At 31 March 2023
360




Page 6

 
D W ARGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
53,549
287,948

Other debtors
245,249
199,289

298,798
487,237



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
2,668,686
1,863,346

Bank loans
327,405
304,663

Trade creditors
689,987
835,355

Other taxation and social security
37,615
51,691

Obligations under finance lease and hire purchase contracts
86,891
109,515

Other creditors
993,575
1,057,049

Accruals and deferred income
66,738
23,889

4,870,897
4,245,508


The following liabilities were secured:

2023
2022
£
£



Hire purchase creditors
86,891
109,515

Bank loans
327,405
304,663

414,296
414,178

Details of security provided:

The amounts included within hire purchase creditors are secured against the underlying assets purchased.
The bank loans are secured with fixed charges over West Mains of Barras, Mitton of Barras, Cotbank of Catterline, Bellfield Farm and land at Brigstanes and a floating charge over all the property or undertaking of the company.

Page 7

 
D W ARGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
4,042,041
4,385,518

Net obligations under finance leases and hire purchase contracts
68,944
77,194

4,110,985
4,462,712


The following liabilities were secured:

2023
2022
£
£



Hire purchase creditor
68,944
77,194

Bank loans
4,042,041
4,385,518

4,110,985
4,462,712

Details of security provided:

The amounts included within hire purchase creditors are secured against the underlying assets purchased.
The bank loans are secured with fixed charges over West Mains of Barras, Mitton of Barras, Cotbank of Catterline, Bellfield Farm and land at Brigstanes and a floating charge over all the property or undertaking of the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable by instalments
2,816,624
2,999,489

2,816,624
2,999,489




Page 8