Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Hector William Dick 03/12/2008 27 March 2024 The principal activity of the Company continues to be that of property development and hire of machinery and containers. SC352078 2023-08-31 SC352078 bus:Director1 2023-08-31 SC352078 2022-08-31 SC352078 core:CurrentFinancialInstruments 2023-08-31 SC352078 core:CurrentFinancialInstruments 2022-08-31 SC352078 core:Non-currentFinancialInstruments 2023-08-31 SC352078 core:Non-currentFinancialInstruments 2022-08-31 SC352078 core:ShareCapital 2023-08-31 SC352078 core:ShareCapital 2022-08-31 SC352078 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC352078 core:RetainedEarningsAccumulatedLosses 2022-08-31 SC352078 core:LandBuildings 2022-08-31 SC352078 core:PlantMachinery 2022-08-31 SC352078 core:ComputerEquipment 2022-08-31 SC352078 core:LandBuildings 2023-08-31 SC352078 core:PlantMachinery 2023-08-31 SC352078 core:ComputerEquipment 2023-08-31 SC352078 bus:OrdinaryShareClass1 2023-08-31 SC352078 2022-09-01 2023-08-31 SC352078 bus:FilletedAccounts 2022-09-01 2023-08-31 SC352078 bus:SmallEntities 2022-09-01 2023-08-31 SC352078 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 SC352078 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC352078 bus:Director1 2022-09-01 2023-08-31 SC352078 core:LandBuildings core:TopRangeValue 2022-09-01 2023-08-31 SC352078 core:PlantMachinery 2022-09-01 2023-08-31 SC352078 core:ComputerEquipment core:TopRangeValue 2022-09-01 2023-08-31 SC352078 2021-09-01 2022-08-31 SC352078 core:LandBuildings 2022-09-01 2023-08-31 SC352078 core:ComputerEquipment 2022-09-01 2023-08-31 SC352078 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 SC352078 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 SC352078 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC352078 (Scotland)

DURABUILD LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH THE REGISTRAR

DURABUILD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023

Contents

DURABUILD LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2023
DURABUILD LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 94,666 98,599
94,666 98,599
Current assets
Debtors 4 27,308 6,647
Cash at bank and in hand 5 503 169
27,811 6,816
Creditors: amounts falling due within one year 6 ( 23,385) ( 20,512)
Net current assets/(liabilities) 4,426 (13,696)
Total assets less current liabilities 99,092 84,903
Creditors: amounts falling due after more than one year 7 ( 4,161) ( 6,703)
Net assets 94,931 78,200
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 94,831 78,100
Total shareholder's funds 94,931 78,200

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Durabuild Limited (registered number: SC352078) were approved and authorised for issue by the Director on 27 March 2024. They were signed on its behalf by:

Hector William Dick
Director
DURABUILD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
DURABUILD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Durabuild Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Commerce House, South Street, Elgin, IV30 1JE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 01 September 2022 93,051 53,546 570 147,167
At 31 August 2023 93,051 53,546 570 147,167
Accumulated depreciation
At 01 September 2022 2,326 46,020 222 48,568
Charge for the financial year 1,861 1,882 190 3,933
At 31 August 2023 4,187 47,902 412 52,501
Net book value
At 31 August 2023 88,864 5,644 158 94,666
At 31 August 2022 90,725 7,526 348 98,599

4. Debtors

2023 2022
£ £
Trade debtors 5,221 5,231
Other debtors 22,087 1,416
27,308 6,647

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 503 169

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 2,543 2,480
Trade creditors 5,483 2,987
Taxation and social security 10,760 10,445
Other creditors 4,599 4,600
23,385 20,512

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 4,161 6,703

The bank loan was granted under the Bounce Back Loan Scheme which is fully guaranteed by the UK government.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due from key management personnel 21,779 1,416

Interest was charged at 2.00% on the overdrawn balance to 05 April 2023 and 2.25% on the overdrawn balance thereafter, however. there are no fixed terms of repayment.