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REGISTERED NUMBER: SC194107 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

DAVIDSONS (FRASERBURGH) LIMITED

DAVIDSONS (FRASERBURGH) LIMITED (REGISTERED NUMBER: SC194107)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DAVIDSONS (FRASERBURGH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: B Davidson





REGISTERED OFFICE: Seagate
Peterhead
Aberdeenshire
AB42 1JP





REGISTERED NUMBER: SC194107 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

DAVIDSONS (FRASERBURGH) LIMITED (REGISTERED NUMBER: SC194107)

STATEMENT OF FINANCIAL POSITION
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,293 57,354

CURRENT ASSETS
Stocks 19,500 27,000
Debtors 5 267,840 168,976
Cash at bank and in hand 13,133 88,732
300,473 284,708
CREDITORS
Amounts falling due within one year 6 99,029 70,953
NET CURRENT ASSETS 201,444 213,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,737

271,109

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 255,637 271,009
SHAREHOLDERS' FUNDS 255,737 271,109

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th September 2023 and were signed by:





B Davidson - Director


DAVIDSONS (FRASERBURGH) LIMITED (REGISTERED NUMBER: SC194107)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Davidsons (Fraserburgh) 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.

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 - 25% on reducing balance

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.

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.

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 12 (2022 - 12 ) .

DAVIDSONS (FRASERBURGH) LIMITED (REGISTERED NUMBER: SC194107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2022 177,963
Additions 18,300
Disposals (11,651 )
At 31st May 2023 184,612
DEPRECIATION
At 1st June 2022 120,609
Charge for year 18,098
Eliminated on disposal (8,388 )
At 31st May 2023 130,319
NET BOOK VALUE
At 31st May 2023 54,293
At 31st May 2022 57,354

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 194,593 114,779
Inter company loans 71,247 52,197
Loan - B Smith 2,000 2,000
267,840 168,976

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 10,577
Trade creditors 34,507 26,023
Tax 13,464 2,028
Social security and other taxes 13,395 13,956
VAT 17,731 16,274
Other creditors 19,269 1,724
Directors' current accounts 663 371
99,029 70,953