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REGISTERED NUMBER: SC596907 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Central Doorset Manufacturing Limited

Central Doorset Manufacturing Limited (Registered number: SC596907)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Central Doorset Manufacturing Limited (Registered number: SC596907)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 469,391 212,492

CURRENT ASSETS
Stocks 876,211 576,092
Debtors 5 2,116,633 1,034,986
Cash at bank 229,973 99,308
3,222,817 1,710,386
CREDITORS
Amounts falling due within one year 6 (2,635,835 ) (1,249,798 )
NET CURRENT ASSETS 586,982 460,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,373

673,080

CREDITORS
Amounts falling due after more than one year 7 (200,200 ) (115,903 )

PROVISIONS FOR LIABILITIES (92,832 ) (27,566 )
NET ASSETS 763,341 529,611

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 763,337 529,607
763,341 529,611

Central Doorset Manufacturing Limited (Registered number: SC596907)

Balance Sheet - continued
31 July 2023


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

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

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 15 November 2023 and were signed on its behalf by:





Mr M Sandison - Director


Central Doorset Manufacturing Limited (Registered number: SC596907)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Central Doorset Manufacturing Limited is a private company, limited by shares, domiciled in Scotland, registration number SC596907 . The registered office is Haypark Business Centre, Marchmont Avenue, Polmont, FK2 0NZ.

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 represents net invoiced sales of goods and services in respect of manufacturing doors and doorsets, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Central Doorset Manufacturing Limited (Registered number: SC596907)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 27,750 360,698 388,448
Additions 58,401 314,655 373,056
Disposals - (41,138 ) (41,138 )
At 31 July 2023 86,151 634,215 720,366
DEPRECIATION
At 1 August 2022 3,321 172,635 175,956
Charge for year 2,854 96,832 99,686
Eliminated on disposal - (24,667 ) (24,667 )
At 31 July 2023 6,175 244,800 250,975
NET BOOK VALUE
At 31 July 2023 79,976 389,415 469,391
At 31 July 2022 24,429 188,063 212,492

Central Doorset Manufacturing Limited (Registered number: SC596907)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022 265,211
Additions 220,200
Disposals (41,138 )
Transfer to ownership (60,107 )
At 31 July 2023 384,166
DEPRECIATION
At 1 August 2022 138,301
Charge for year 57,099
Eliminated on disposal (24,667 )
Transfer to ownership (60,107 )
At 31 July 2023 110,626
NET BOOK VALUE
At 31 July 2023 273,540
At 31 July 2022 126,910

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 2,047,142 1,005,510
Other debtors 69,491 29,476
2,116,633 1,034,986

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 70,643 41,417
Trade creditors 1,698,712 643,181
Amounts owed to related parties 249,752 308,252
Taxation and social security 510,440 246,831
Other creditors 96,288 117
2,635,835 1,249,798

Central Doorset Manufacturing Limited (Registered number: SC596907)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 13,126 23,126
Hire purchase contracts 187,074 92,777
200,200 115,903

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 257,717 134,194

Amounts due on hire purchase contracts are secured against the assets to which they relate.

9. RELATED PARTY DISCLOSURES

Company with common director and shareholder

Amounts due to related party £249,752 (2022: £308,252).