Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30false2022-10-01falseNo description of principal activity1717trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC385357 2022-10-01 2023-09-30 SC385357 2021-10-01 2022-09-30 SC385357 2023-09-30 SC385357 2022-09-30 SC385357 c:Director1 2022-10-01 2023-09-30 SC385357 c:Director2 2022-10-01 2023-09-30 SC385357 c:Director3 2022-10-01 2023-09-30 SC385357 c:Director4 2022-10-01 2023-09-30 SC385357 c:RegisteredOffice 2022-10-01 2023-09-30 SC385357 d:Buildings d:LongLeaseholdAssets 2022-10-01 2023-09-30 SC385357 d:Buildings d:LongLeaseholdAssets 2023-09-30 SC385357 d:Buildings d:LongLeaseholdAssets 2022-09-30 SC385357 d:PlantMachinery 2022-10-01 2023-09-30 SC385357 d:PlantMachinery 2023-09-30 SC385357 d:PlantMachinery 2022-09-30 SC385357 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC385357 d:MotorVehicles 2022-10-01 2023-09-30 SC385357 d:MotorVehicles 2023-09-30 SC385357 d:MotorVehicles 2022-09-30 SC385357 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC385357 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC385357 d:Goodwill 2022-10-01 2023-09-30 SC385357 d:Goodwill 2023-09-30 SC385357 d:Goodwill 2022-09-30 SC385357 d:CurrentFinancialInstruments 2023-09-30 SC385357 d:CurrentFinancialInstruments 2022-09-30 SC385357 d:Non-currentFinancialInstruments 2023-09-30 SC385357 d:Non-currentFinancialInstruments 2022-09-30 SC385357 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 SC385357 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 SC385357 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 SC385357 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 SC385357 d:ShareCapital 2023-09-30 SC385357 d:ShareCapital 2022-09-30 SC385357 d:RetainedEarningsAccumulatedLosses 2023-09-30 SC385357 d:RetainedEarningsAccumulatedLosses 2022-09-30 SC385357 c:OrdinaryShareClass2 2022-10-01 2023-09-30 SC385357 c:OrdinaryShareClass2 2023-09-30 SC385357 c:OrdinaryShareClass2 2022-09-30 SC385357 c:OrdinaryShareClass3 2022-10-01 2023-09-30 SC385357 c:OrdinaryShareClass3 2023-09-30 SC385357 c:OrdinaryShareClass3 2022-09-30 SC385357 c:OrdinaryShareClass4 2022-10-01 2023-09-30 SC385357 c:OrdinaryShareClass4 2023-09-30 SC385357 c:OrdinaryShareClass4 2022-09-30 SC385357 c:FRS102 2022-10-01 2023-09-30 SC385357 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 SC385357 c:FullAccounts 2022-10-01 2023-09-30 SC385357 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC385357 d:Goodwill d:OwnedIntangibleAssets 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC385357










DAVID L DOUGLAS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
DAVID L DOUGLAS LIMITED
 

COMPANY INFORMATION


Directors
Mr D L Douglas 
Mrs E Douglas 
Mr M Douglas 
Miss S Douglas 




Registered number
SC385357



Registered office
West End
127 Main Street

Cairneyhill

Fife

KY12 8QX




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
DAVID L DOUGLAS LIMITED
REGISTERED NUMBER: SC385357

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 4 
122,500
140,000

Tangible assets
 5 
139,340
131,833

  
261,840
271,833

Current assets
  

Stocks
  
231,274
163,060

Debtors: amounts falling due within one year
 6 
20,615
94,051

Cash at bank and in hand
  
94,457
208,305

  
346,346
465,416

Creditors: amounts falling due within one year
 7 
(454,548)
(547,534)

Net current liabilities
  
 
 
(108,202)
 
 
(82,118)

Total assets less current liabilities
  
153,638
189,715

Creditors: amounts falling due after more than one year
 8 
(94,948)
(116,971)

Provisions for liabilities
  

Deferred tax
  
(17,447)
(19,565)

  
 
 
(17,447)
 
 
(19,565)

Accruals and deferred income
 9 
(41,044)
(49,750)

Net assets
  
199
3,429


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
99
3,329

  
199
3,429


Page 1

 
DAVID L DOUGLAS LIMITED
REGISTERED NUMBER: SC385357

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D L Douglas
Mrs E Douglas
Director
Director


Date: 19 February 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

David L Douglas Limited is a private company, limited by shares, incorporated in Scotland with registration number SC385357. The registered office is West End 127 Main Street, Cairneyhill, Dunfermline, KY12 8QX.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5% Straight Line

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance method..

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the period of the lease
Plant and machinery
-
25% Reducing Balance or 10% Straight Line
Motor vehicles
-
25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 17).

Page 6

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2022
350,000



At 30 September 2023

350,000



Amortisation


At 1 October 2022
210,000


Charge for the year on owned assets
17,500



At 30 September 2023

227,500



Net book value



At 30 September 2023
122,500



At 30 September 2022
140,000



Page 7

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 October 2022
34,741
380,204
35,000
449,945


Additions
11,513
17,146
-
28,659



At 30 September 2023

46,254
397,350
35,000
478,604



Depreciation


At 1 October 2022
34,388
258,475
25,249
318,112


Charge for the year on owned assets
845
17,869
2,438
21,152



At 30 September 2023

35,233
276,344
27,687
339,264



Net book value



At 30 September 2023
11,021
121,006
7,313
139,340



At 30 September 2022
353
121,729
9,751
131,833


6.


Debtors

2023
2022
£
£


Trade debtors
8,050
42,332

Other debtors
12,565
51,719

20,615
94,051


Page 8

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
22,026
21,395

Trade creditors
125,730
182,243

Other taxation and social security
63,027
32,136

Obligations under finance lease and hire purchase contracts
702
6,135

Other creditors
208,375
179,774

Accruals and deferred income
34,688
125,851

454,548
547,534


Bank loans of £12,026 (2022 - £11,395) are secured by a bond and floating charge over the property and all the assets of the Company. Hire purchase liabilities are secured over the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
94,948
116,971

94,948
116,971


Bank loans of £78,334 (2022 - £90,358) are secured by a bond and floating charge over the property and all the assets of the Company.


9.


Accruals and deferred income

2023
2022
£
£

Grants
41,044
49,750

41,044
49,750


Page 9

 
DAVID L DOUGLAS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



90 (2022 - 90) Ordinary A shares of £1.00 each
90
90
5 (2022 - 5) Ordinary B shares of £1.00 each
5
5
5 (2022 - 5) Ordinary C shares of £1.00 each
5
5

100

100



Page 10