Registered number
SC400598
Blind Davy's Limited
Filleted Accounts
31 March 2023
Blind Davy's Limited
Registered number: SC400598
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,750 5,500
Current assets
Stocks 3,000 3,000
Debtors 4 18,762 19,810
Cash at bank and in hand 655,534 570,410
677,296 593,220
Creditors: amounts falling due within one year 5 (139,150) (35,681)
Net current assets 538,146 557,539
Net assets 540,896 563,039
Capital and reserves
Called up share capital 100 100
Profit and loss account 540,796 562,939
Shareholders' funds 540,896 563,039
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Gurteen
Director
Approved by the board on 21 November 2023
Blind Davy's Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Motor Vehicles Straight Line over 4 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2022 11,000
At 31 March 2023 11,000
Depreciation
At 1 April 2022 5,500
Charge for the year 2,750
At 31 March 2023 8,250
Net book value
At 31 March 2023 2,750
At 31 March 2022 5,500
4 Debtors 2023 2022
£ £
Trade debtors 15,817 16,865
Other debtors 2,945 2,945
18,762 19,810
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,473 1,229
Taxation and social security costs 25,121 33,246
Other creditors 109,556 1,206
139,150 35,681
6 Other information
Blind Davy's Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
42 High Street
Kirkcaldy
Fife
KY1 1NA
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