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REGISTERED NUMBER: SC253781 (Scotland)









DAVIE + MCCULLOCH LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)






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




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


DAVIE + MCCULLOCH LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: I S Oxburgh
A K MacDougall



SECRETARY: I S Oxburgh



REGISTERED OFFICE: 17 Lynedoch Street
Glasgow
G3 6EF



REGISTERED NUMBER: SC253781 (Scotland)



ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL



BANKERS: Bank of Scotland

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DAVIE + MCCULLOCH LTD.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Davie + McCulloch Ltd. for the year ended 31st March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Davie + McCulloch Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Davie + McCulloch Ltd. and state those matters that we have agreed to state to the Board of Directors of Davie + McCulloch Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Davie + McCulloch Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Davie + McCulloch Ltd.. You consider that Davie + McCulloch Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Davie + McCulloch Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


22nd November 2023

DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,021 27,271
Tangible assets 5 103,882 33,713
111,903 60,984

CURRENT ASSETS
Debtors 6 505,112 434,179
Cash at bank and in hand 8 6,382
505,120 440,561
CREDITORS
Amounts falling due within one year 7 201,615 150,261
NET CURRENT ASSETS 303,505 290,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,408

351,284

CREDITORS
Amounts falling due after more than one
year

8

(71,254

)

(37,500

)

PROVISIONS FOR LIABILITIES (16,458 ) -
NET ASSETS 327,696 313,784

CAPITAL AND RESERVES
Called up share capital 11 1,100 1,100
Retained earnings 326,596 312,684
SHAREHOLDERS' FUNDS 327,696 313,784

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

BALANCE SHEET - continued
31ST MARCH 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 22nd November 2023 and were signed on its behalf by:




I S Oxburgh - Director



A K MacDougall - Director


DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

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

1. STATUTORY INFORMATION

Davie + McCulloch 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.

Going concern basis
The financial statements have been prepared on the going concern basis. The director believes that the company has adequate resources and support to continue to operate for the foreseeable future.

Turnover
The turnover shown in the profit and loss account represents the sales value of work done as consulting engineers during the year, exclusive of Value Added Tax.

Goodwill
Goodwill arising on the acquisition of businesses, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life of 20 years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property- 20% straight line
Website development- 25% straight line
Fixtures & fittings- 10 % - 20% straight line
Motor vehicles- 20% straight line
Office equipment- 25% straight line

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 balance sheet date.


DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Long term contracts
The company classifies as long term those contracts where the contract activity extends over more than one accounting period.

The amount recognised as turnover represents the value of work carried out during the year. Where the outcome of a contract can be assessed with reasonable certainty attributable profit is recognised in proportion to the amount of turnover recognised in the financial statements. Full provision is made for any foreseeable losses.

Where the amount recognised as turnover exceeds the payments received on account in respect of that contract, the balance is included in debtors as amounts recoverable on contracts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 385,000
AMORTISATION
At 1st April 2022 357,729
Amortisation for year 19,250
At 31st March 2023 376,979
NET BOOK VALUE
At 31st March 2023 8,021
At 31st March 2022 27,271

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Website and
property development fittings
£    £    £   
COST
At 1st April 2022 20,926 3,000 24,531
Additions - - -
Disposals - - -
At 31st March 2023 20,926 3,000 24,531
DEPRECIATION
At 1st April 2022 20,455 626 20,462
Charge for year 471 1,063 1,039
Eliminated on disposal - - -
At 31st March 2023 20,926 1,689 21,501
NET BOOK VALUE
At 31st March 2023 - 1,311 3,030
At 31st March 2022 471 2,374 4,069

DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st April 2022 53,163 149,756 251,376
Additions 93,560 2,267 95,827
Disposals (53,163 ) - (53,163 )
At 31st March 2023 93,560 152,023 294,040
DEPRECIATION
At 1st April 2022 40,784 135,336 217,663
Charge for year 12,929 5,909 21,411
Eliminated on disposal (48,916 ) - (48,916 )
At 31st March 2023 4,797 141,245 190,158
NET BOOK VALUE
At 31st March 2023 88,763 10,778 103,882
At 31st March 2022 12,379 14,420 33,713

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 93,560
At 31st March 2023 93,560
DEPRECIATION
Charge for year 4,797
At 31st March 2023 4,797
NET BOOK VALUE
At 31st March 2023 88,763

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 449,793 353,283
Amounts recoverable on contracts 28,600 20,700
Other debtors 26,719 60,196
505,112 434,179

DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 9) 48,122 10,000
Hire purchase contracts 18,708 -
Payments on account 1,500 8,650
Trade creditors 42,327 34,028
Taxation and social security 69,264 80,273
Other creditors 21,694 17,310
201,615 150,261

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 27,498 37,500
Hire purchase contracts 43,756 -
71,254 37,500

9. 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 38,122 -
Bank loans 10,000 10,000
48,122 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,498 27,500

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdraft 38,122 -
Hire purchase contracts 62,464 -
100,586 -

There is a bond and floating charge over the assets of the company to secure any future sums and obligations due or to become due from time to time by the company to The Bank of Scotland plc.

DAVIE + MCCULLOCH LTD. (REGISTERED NUMBER: SC253781)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
540 "A" ordinary £1 540 540
460 "B" ordinary £1 460 460
1 "S" ordinary £100 100 100
1,100 1,100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022:

31.3.23 31.3.22
£    £   
I S Oxburgh
Balance outstanding at start of year 18,935 19,924
Amounts advanced 77,775 89,758
Amounts repaid (97,297 ) (90,747 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (587 ) 18,935

A K MacDougall
Balance outstanding at start of year 14,127 26,325
Amounts advanced 66,334 74,477
Amounts repaid (88,243 ) (86,675 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,782 ) 14,127

The partnership of Davie & McCulloch, I S Oxburgh & A K MacDougall have provided a joint personal guarantee of £100,000 to Bank of Scotland PLc in respect of the bank facilities.

13. ULTIMATE CONTROLLING PARTY

The company was under the control of I S Oxburgh throughout the current and previous year. I S Oxburgh is a director and majority shareholder.