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REGISTERED NUMBER: SC083542 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

D & E Products Limited

D & E Products Limited (Registered number: SC083542)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

D & E Products Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: D B Barr
E M Barr
C A Barr





SECRETARY: D B Barr





REGISTERED OFFICE: 14 McPherson Drive
Bothwell
G71 8QP





BUSINESS ADDRESS: Blantyre Industrial Estate
Block 2 Unit 8
Blantyre
G72 0ND





REGISTERED NUMBER: SC083542 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

D & E Products Limited (Registered number: SC083542)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 42,893 29,656
Investments 7 975 900
43,868 30,556

CURRENT ASSETS
Stocks 134,656 124,911
Debtors 8 321,913 311,711
Cash at bank and in hand 268,175 270,462
724,744 707,084
CREDITORS
Amounts falling due within one year 9 346,171 294,537
NET CURRENT ASSETS 378,573 412,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

422,441

443,103

PROVISIONS FOR LIABILITIES 8,150 5,575
NET ASSETS 414,291 437,528

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 404,291 427,528
SHAREHOLDERS' FUNDS 414,291 437,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

D & E Products Limited (Registered number: SC083542)

Balance Sheet - continued
30 June 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 30 March 2024 and were signed on its behalf by:





D B Barr - Director


D & E Products Limited (Registered number: SC083542)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

D & E Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from various janitorial products supplied by the company.

Turnover is measured at the fair value of various janitorial products supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

D & E Products Limited (Registered number: SC083542)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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 taxation
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 and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

Fixed asset investments
Investments are stated at cost less any provision for a permanent diminution in value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

D & E Products Limited (Registered number: SC083542)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 20,000
AMORTISATION
At 1 July 2022
and 30 June 2023 20,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 3,608 101,213 104,821
Additions - 24,945 24,945
Disposals - (22,640 ) (22,640 )
At 30 June 2023 3,608 103,518 107,126
DEPRECIATION
At 1 July 2022 722 74,443 75,165
Charge for year 721 10,987 11,708
Eliminated on disposal - (22,640 ) (22,640 )
At 30 June 2023 1,443 62,790 64,233
NET BOOK VALUE
At 30 June 2023 2,165 40,728 42,893
At 30 June 2022 2,886 26,770 29,656

D & E Products Limited (Registered number: SC083542)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 2,100
PROVISIONS
At 1 July 2022 1,200
Provision for year (75 )
At 30 June 2023 1,125
NET BOOK VALUE
At 30 June 2023 975
At 30 June 2022 900

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 281,455 261,548
Other debtors 40,458 50,163
321,913 311,711

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 158,225 107,686
Taxation and social security 31,054 41,916
Other creditors 156,892 144,935
346,171 294,537

10. RELATED PARTY DISCLOSURES

The company operates a loan account with the directors, Mr and Mrs Barr.
During the year, the directors advanced loans totalling £11,777 to the company. At the year end, the balance due to the directors was £152,507 (2022: £140,730). There are no fixed repayment terms and no interest charged.

The company operates from premises owned by D & E Products Directors' Trust Fund, a self administered pension scheme of which the company directors and shareholders are both trustees and beneficiaries. An annual rental of £33,650 (2022 - £30,300) is paid to the fund for the use of these premises.

During the year, the company paid for expenses totalling £2,238 on behalf of D & E Products Directors' Trust Fund. At the year end the company was owed £31,303 (2022 - £29,065) from D & E Products Directors' Trust Fund. There are no fixed repayment terms and no interest was charged.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
D & E Products Limited

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 D & E Products Limited for the year ended 30 June 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 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 D & E Products Limited, 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 D & E Products Limited and state those matters that we have agreed to state to the Board of Directors of D & E Products 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that D & E Products 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 D & E Products Limited. You consider that D & E Products Limited 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 D & E Products 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


30 March 2024