Silverfin false false 31/12/2023 01/01/2023 31/12/2023 J Dodds 30/04/1993 N M Dodds 30/04/1993 D J Dodds 30/04/1993 14 March 2024 The principal activity of the company continued to be that of the provision of management services and that of a holding company. SC143011 2023-12-31 SC143011 bus:Director1 2023-12-31 SC143011 bus:Director2 2023-12-31 SC143011 bus:Director3 2023-12-31 SC143011 core:CurrentFinancialInstruments 2023-12-31 SC143011 core:CurrentFinancialInstruments 2022-12-31 SC143011 2022-12-31 SC143011 core:ShareCapital 2023-12-31 SC143011 core:ShareCapital 2022-12-31 SC143011 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC143011 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC143011 bus:OrdinaryShareClass1 2023-12-31 SC143011 2023-01-01 2023-12-31 SC143011 bus:FilletedAccounts 2023-01-01 2023-12-31 SC143011 bus:SmallEntities 2023-01-01 2023-12-31 SC143011 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC143011 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC143011 bus:Director1 2023-01-01 2023-12-31 SC143011 bus:Director2 2023-01-01 2023-12-31 SC143011 bus:Director3 2023-01-01 2023-12-31 SC143011 2022-01-01 2022-12-31 SC143011 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC143011 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC143011 (Scotland)

DGT LIMITED

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

DGT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

DGT LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
DGT LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
2023 2022
£ £
Current assets
Debtors 3 64,563 63,575
64,563 63,575
Creditors: amounts falling due within one year 4 ( 4,148) ( 3,388)
Net current assets 60,415 60,187
Total assets less current liabilities 60,415 60,187
Net assets 60,415 60,187
Capital and reserves
Called-up share capital 5 60,000 60,000
Profit and loss account 415 187
Total shareholders' funds 60,415 60,187

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

Directors' responsibilities:

The financial statements of DGT Limited (registered number: SC143011) were approved and authorised for issue by the Board of Directors on 14 March 2024. They were signed on its behalf by:

J Dodds
Director
DGT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DGT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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

DGT 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 4 East Road, Ayr, KA8 9BA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover represents amounts receivable for management services provided.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 directors 2 2

3. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 39,388 35,088
Other debtors 25,175 28,487
64,563 63,575

4. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 648 1,388
Other creditors 3,500 2,000
4,148 3,388

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
60,000 Ordinary shares of £ 1.00 each 60,000 60,000

6. Related party transactions

Other related party transactions

2023 2022
£ £
Entities over which the entity has control, joint control or significant influence 39,388 35,088

7. Fixed asset investments

The company has an investment in its subsidiary company Dodds of Troon Limited whose principal activity is that of a coach operator. Dodds of Troon Limited is a company limited by guarantee and therefore has no share capital. In the event of winding up, all of the surplus assets shall be payable to DGT Limited.