10 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-03-17 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP SC726624 2022-03-17 2023-03-31 SC726624 2023-03-31 SC726624 core:PlantMachinery 2022-03-17 2023-03-31 SC726624 core:FurnitureFittingsToolsEquipment 2022-03-17 2023-03-31 SC726624 core:MotorVehicles 2022-03-17 2023-03-31 SC726624 core:OnerousContractsExcludingVacantProperties 2022-03-17 2023-03-31 SC726624 bus:RegisteredOffice 2022-03-17 2023-03-31 SC726624 bus:LeadAgentIfApplicable 2022-03-17 2023-03-31 SC726624 bus:Director1 2022-03-17 2023-03-31 SC726624 bus:Director2 2022-03-17 2023-03-31 SC726624 core:ShareCapital 2022-03-17 2023-03-31 SC726624 core:RetainedEarningsAccumulatedLosses 2022-03-17 2023-03-31 SC726624 core:WithinOneYear 2023-03-31 SC726624 core:ShareCapital 2023-03-31 SC726624 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC726624 bus:SmallEntities 2022-03-17 2023-03-31 SC726624 bus:AuditExemptWithAccountantsReport 2022-03-17 2023-03-31 SC726624 bus:AbridgedAccounts 2022-03-17 2023-03-31 SC726624 bus:SmallCompaniesRegimeForAccounts 2022-03-17 2023-03-31 SC726624 bus:PrivateLimitedCompanyLtd 2022-03-17 2023-03-31
Company registration number: SC726624
Donaldson and Son Limited
Unaudited filleted abridged financial statements
31 March 2023
Donaldson and Son Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Donaldson and Son Limited
Directors and other information
Directors Robert Donaldson (Appointed 17 March 2022)
Diane Donaldson (Appointed 17 March 2022)
Company number SC726624
Registered office 8 Mitchell Street
Leven
Fife
KY8 4HJ
Accountants Paterson Boyd & Co
Chartered Certified Accountants
8 Mitchell Street
Leven
Fife
KY8 4HJ
Bankers Royal Bank of Scotland
36 St Andrews Square
Edinburgh
EH2 2YB
Donaldson and Son Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Donaldson and Son Limited
Period ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Donaldson and Son Limited for the period ended 31 March 2023 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Donaldson and Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Donaldson and Son Limited and state those matters that we have agreed to state to the board of directors of Donaldson and Son Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Donaldson and Son Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Donaldson and Son Limited 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 Donaldson and Son Limited. You consider that Donaldson and Son Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Donaldson and Son Limited. 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.
Paterson Boyd & Co
Chartered Certified Accountants
8 Mitchell Street
Leven
Fife
KY8 4HJ
27 November 2023
Donaldson and Son Limited
Abridged statement of financial position
31 March 2023
31/03/23
Note £ £
Fixed assets
Tangible assets 5 53,786
_______
53,786
Current assets
Stocks 18,126
Debtors 88,067
Cash at bank and in hand 160,115
_______
266,308
Creditors: amounts falling due
within one year ( 139,496)
_______
Net current assets 126,812
_______
Total assets less current liabilities 180,598
Provisions for liabilities ( 5,996)
_______
Net assets 174,602
_______
Capital and reserves
Called up share capital 100
Profit and loss account 174,502
_______
Shareholders funds 174,602
_______
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current period ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Robert Donaldson
Director
Company registration number: SC726624
Donaldson and Son Limited
Statement of changes in equity
Period ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 17 March 2022 - - -
Profit for the period 178,502 178,502
_______ _______ _______
Total comprehensive income for the period - 178,502 178,502
Issue of shares 100 100
Dividends paid and payable ( 4,000) ( 4,000)
_______ _______ _______
Total investments by and distributions to owners 100 ( 4,000) ( 3,900)
_______ _______ _______
At 31 March 2023 100 174,502 174,602
_______ _______ _______
Donaldson and Son Limited
Notes to the financial statements
Period ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8 Mitchell Street, Leven, Fife, KY8 4HJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20.00 % reducing balance
Fittings fixtures and equipment - 20.00 % reducing balance
Motor vehicles - 25.00 % reducing balance
Computer equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Staff costs
The average number of persons employed by the company during the period amounted to 10
The aggregate payroll costs incurred during the period were:
Period
ended
31/03/23
£
Wages and salaries 262,555
Social security costs 22,748
Other pension costs 7,819
_______
293,122
_______
5. Tangible assets
£
Cost
At 17 March 2022 -
Additions 74,510
Disposals ( 2,891)
_______
At 31 March 2023 71,619
_______
Depreciation
At 17 March 2022 -
Charge for the year 17,833
_______
At 31 March 2023 17,833
_______
Carrying amount
At 31 March 2023 53,786
_______