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REGISTERED NUMBER: SC306003 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023

FOR

DEESIDE LIFTING & INSPECTION LTD.

DEESIDE LIFTING & INSPECTION LTD. (REGISTERED NUMBER: SC306003)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DEESIDE LIFTING & INSPECTION LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: D Petrie
M Petrie





REGISTERED OFFICE: Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN





REGISTERED NUMBER: SC306003 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

DEESIDE LIFTING & INSPECTION LTD. (REGISTERED NUMBER: SC306003)

STATEMENT OF FINANCIAL POSITION
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 189,785 202,030

CURRENT ASSETS
Debtors 5 17,062 2,808
Investments 6 710,497 710,497
Cash at bank 191,122 230,964
918,681 944,269
CREDITORS
Amounts falling due within one year 7 56,200 67,770
NET CURRENT ASSETS 862,481 876,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,052,266

1,078,529

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 1,052,262 1,078,525
SHAREHOLDERS' FUNDS 1,052,266 1,078,529

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 6th February 2024 and were signed on its behalf by:





D Petrie - Director


DEESIDE LIFTING & INSPECTION LTD. (REGISTERED NUMBER: SC306003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Deeside Lifting & Inspection Ltd. 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

DEESIDE LIFTING & INSPECTION LTD. (REGISTERED NUMBER: SC306003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st August 2022 162,433 126,147 288,580
Additions - 3,855 3,855
At 31st July 2023 162,433 130,002 292,435
DEPRECIATION
At 1st August 2022 - 86,550 86,550
Charge for year - 16,100 16,100
At 31st July 2023 - 102,650 102,650
NET BOOK VALUE
At 31st July 2023 162,433 27,352 189,785
At 31st July 2022 162,433 39,597 202,030

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,062 2,808

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Inter company loan 710,497 710,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 43,201 25,110
VAT 11,426 15,440
Other creditors 1,556 27,047
Directors' current accounts 17 173
56,200 67,770