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REGISTERED NUMBER: SC295970 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

DRYSDALE FREIGHT LTD

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DRYSDALE FREIGHT LTD

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTORS: R H Drysdale
R Drysdale
A W Scougall



SECRETARY: Miss J Forrest



REGISTERED OFFICE: Tower Farm
Cockburnspath
Berwickshire
TD13 5YU



REGISTERED NUMBER: SC295970 (Scotland)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: The Royal Bank of Scotland plc
Ayton Branch
High Street
Ayton
TD14 5QJ

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

STATEMENT OF FINANCIAL POSITION
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,332,616 1,329,490
1,332,616 1,329,490

CURRENT ASSETS
Stocks 18,729 19,182
Debtors 6 378,586 546,620
Investments 7 388,494 413,200
Cash at bank and in hand 1,115,238 1,056,865
1,901,047 2,035,867
CREDITORS
Amounts falling due within one year 8 130,431 245,579
NET CURRENT ASSETS 1,770,616 1,790,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,103,232

3,119,778

CREDITORS
Amounts falling due after more than one
year

9

(250,000

)

(250,000

)

PROVISIONS FOR LIABILITIES 10 (108,634 ) (96,139 )
NET ASSETS 2,744,598 2,773,639

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 2,744,498 2,773,539
SHAREHOLDERS' FUNDS 2,744,598 2,773,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

STATEMENT OF FINANCIAL POSITION - continued
30 April 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 14 November 2023 and were signed on its behalf by:





R H Drysdale - Director


DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Drysdale Freight Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2006, has been fully amortised over its estimated useful life of 10 years up to 30 April 2016.

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.
Freehold property - 2% on cost and not provided
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Depreciation is not provided on the land element of freehold property.

Investments in associates
Investments in associate undertakings are recognised at cost.

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

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 statement of financial position date.


DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 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 statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable. Basic financial instruments are recognised at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 250,000
AMORTISATION
At 1 May 2022
and 30 April 2023 250,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2022 1,039,209 39,495 2,536,227
Additions - - 260,868
Disposals - - (549,061 )
At 30 April 2023 1,039,209 39,495 2,248,034
DEPRECIATION
At 1 May 2022 259,023 36,525 2,024,857
Charge for year 21,509 446 178,166
Eliminated on disposal - - (500,044 )
At 30 April 2023 280,532 36,971 1,702,979
NET BOOK VALUE
At 30 April 2023 758,677 2,524 545,055
At 30 April 2022 780,186 2,970 511,370

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 10,724 92,196 9,316 3,727,167
Additions - - - 260,868
Disposals - - (480 ) (549,541 )
At 30 April 2023 10,724 92,196 8,836 3,438,494
DEPRECIATION
At 1 May 2022 8,647 61,494 7,131 2,397,677
Charge for year 312 7,683 608 208,724
Eliminated on disposal - - (479 ) (500,523 )
At 30 April 2023 8,959 69,177 7,260 2,105,878
NET BOOK VALUE
At 30 April 2023 1,765 23,019 1,576 1,332,616
At 30 April 2022 2,077 30,702 2,185 1,329,490

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 293,783 466,853
Directors' loan accounts 61,904 56,374
Prepayments 7,164 5,506
362,851 528,733

Amounts falling due after more than one year:
Tax 15,735 17,887

Aggregate amounts 378,586 546,620

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 388,494 413,200

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 82,469 166,449
Tax - 41,256
Social security and other taxes 6,605 7,519
VAT 29,266 18,367
Other creditors 1,941 2,188
Accruals and deferred income 5,000 5,000
Accrued expenses 5,150 4,800
130,431 245,579

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Preference shares 250,000 250,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 250,000 250,000

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 108,634 96,139

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2022 96,139
Provided during year 12,495
Balance at 30 April 2023 108,634

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

In accordance with the provisions of FRS102, the £250,000 preference shares have been classified as debt and included in Creditors: amounts falling due after more than one year.

12. RESERVES
Retained
earnings
£   

At 1 May 2022 2,773,539
Deficit for the year (29,041 )
At 30 April 2023 2,744,498

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
A W Scougall
Balance outstanding at start of year 2,029 1,214
Amounts advanced 1,023 815
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,052 2,029

R H Drysdale
Balance outstanding at start of year 54,345 54,494
Amounts advanced 4,506 -
Amounts repaid - (149 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,851 54,345

DRYSDALE FREIGHT LTD (REGISTERED NUMBER: SC295970)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R H Drysdale.